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ARTICLE · 21 JUNE 2024

Market Intelligence Thought Leadership Award Winner

Understanding The IMO Net Zero Framework: The Nigerian Perspective And Implications For Maritime Stakeholders

Globally, the clamour for reducing gas emissions that impact climate change is profound. The International Maritime Organization (IMO) has embraced this trend through...

NigeriaTransport

INTRODUCTION

Globally, the clamour for reducing gas emissions that impact climate change is profound. The International Maritime Organization (IMO) has embraced this trend through the Marine Environment Protection Committee during its 81st meeting (MEPC 81) held on March 2024 in London. The IMO in this strategic meeting agreed on a draft outline for the reduction of greenhouse gas (GHG) emissions from international shipping (IMO net-zero framework). According to the IMO in 2018, GHG emissions are projected to increase from about 90% of 2008 emissions in 2018 to 90-130% of 2008 emissions by 2050. Hence the need to adopt a net-zero framework to achieve a cleaner marine environment where GHG released by vessels is reduced to the barest minimum. This move by IMO also complies with the United Nations Sustainable Development Goal 13 which is for organisations and member countries to take urgent actions to combat climate change and its impacts. Nigeria currently ranks

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