WSC readies green balance mechanism proposal for IMO

World Shipping Council (WSC) has developed the Green Balance Mechanism, a regulatory measure designed to ensure that shipping meets its net-zero goal by 2050 in an efficient, just and equitable way. A detailed proposal, including design updates and regulatory text for the Green Balance Mechanism, has been submitted to support the timely development of effective

WSC proposes greenhouse gas pricing mechanism

As the IMO prepares for negotiations on regulations to support net-zero by 2050 at MEPC 81 in March, the World Shipping Council (WSC) has proposed a greenhouse gas pricing mechanism it calls the Green Balance Mechanism. The aim is to provide a new approach to greenhouse gas pricing which makes it possible to close the

WSC responds shipping’s inclusion in EU carbon market

The World Shipping Council (WSC), representing the international liner shipping industry, has issued a response to the preliminary agreement by the European Parliament, Council and Commission to include the maritime sector in the EU Emissions Trading System (EU ETS). The agreement also sets in motion the next steps for the EU to make the ETS

R&D for green fuel fund gets new thrust from maritime groups

Maritime groups hope progress to establish a research and development (R&D) fund meant to find the green fuel of the future can accelerate now that they have addressed concerns about the fund raised by some nations. The organizations — including the International Chamber of Shipping (ICS), BIMCO, Intertanko, and the World Shipping Council (WSC) —