Ballast water management amendments
Progress against milestone 1.2040.2:
High seas and coastal marine protected areas are established and enforced, and marine spatial plans are in place
The International Maritime Organisation’s Marine Environmental Protection Committee (MEPC 80) resulted in the approval of the Convention Review Plan and in the adoption of amendments to the Ballast Water Management (BWM) Convention.
Amendments to the BWM Convention will enter into force 1 February 2025 and include improved record keeping and verification processes.
Sustainable Maritime Supply: A Decarbonised Future
One investment cycle away from 2050, cross-value chain action to decarbonise in an environmentally, socially, and socioeconomically sustainable way is crucial.
Listen to this in-depth discussion on sustainable supply, maritime logistics and how a decarbonised industry could have a stronger role in future transport and trade, in the second episode of Navigating Marine Risks.
Episode contributors:
- Andrew Stephens, Executive Director of the Sustainable Shipping Initiative
Dr Louise de Tremerie, Transport Policy Advisor, European Parliament
Wolfgang Lehmacher, Supply Chain and Technology Strategist
Series moderator:
- Dr Stavros Karamperidis, Head of the Maritime Transport Research Group, University of Plymouth
SSI Impact: News from our journey to sustainable shipping - 02/2023
The SSI Newsletter is published quarterly and is the place to find news from the SSI community, our partners and the impact of our collective work along our journey to a sustainable shipping industry.
Subscribe to SSI Impact: News from our journey to sustainable shipping
UK ETS to include domestic shipping emissions
Progress against milestone 6.2030.2:
Mid- and long-term measures implemented and national regulation incentivising and ensuring the uptake of zero (or low) carbon fuels and technologies in place.
The United Kingdom Emission Trading Scheme (EU ETS) is being extended to include emissions from domestic shipping.
The scheme limits total greenhouse gas emissions, and will be extended to cover domestic maritime transport from 2026 onwards.
Source: Gov.uk
Australia introduces mandatory climate-related reporting starting 2024
Progress against milestone 4.2030.5:
Sustainability performance data is audited, validated and made publicly available.
Australia is implementing mandatory climate-related finance disclosure agreements for companies and financial institutions, with the aim to increase transparency on climate-related plans, risks, and opportunities. This will come into effect in 2024.
Source: Clyde & Co
EU Corporate Sustainability Due Diligence Directive
Progress against milestone 4.2030.5:
Sustainability performance data is audited, validated and made publicly available.
The Corporate Sustainability Due Diligence Directive (CSDDD) requires companies to identify and address the impact of their activities and value chains on human rights and the environment, as well as adopt and implement climate transition plans.
Source: Loyens & Loeff
International Sustainability Standards Board issues two sustainability reporting standards
Progress against milestone 5.2020.2:
Sustainable shipping finance tools addressing ESG performance including sustainability-linked loans and green bonds are developed and implemented, facilitating R&D and technology investments
The International Sustainability Standards Board (ISSB) has issued two sustainability reporting standards – IFRS S1 and IFRS S2 – which will “help improve trust and confidence in company disclosures about sustainability to inform investment decisions”.
The standards promoting harmonisation on sustainability reporting and create a common language for disclosing effect of climate-related risks and opportunities on company’s prospects.
Source: ESG Clarity
Global Biodiversity Credits Roadmap
Progress against milestone 5.2020.4:
Pilot methodologies developed to demonstrate the monetary value of goods and services generated by the marine ecosystem
The Global Biodiversity Credits Roadmap allow for increased investment in environmental projects to restore or enrich nature.
The Roadmap establishes a plan to scale up global efforts to support buying credits that contribute to nature recovery.
Source: UK Government
The Skills for Prosperity programme in Indonesia
Progress against milestone 2.2020.4:
Seafarers have access to high-quality training and career development support, including preparation for future impacts of autonomous ships
The Skills for Prosperity programme in Indonesia aims to improve the country’s skills development policies and systems, and enhance employment and future-readiness of young people.
Source: International Labor Organization
EU Nature Restoration Law
Progress against milestone 1.2040.2:
High seas and coastal marine protected areas are established and enforced, and marine spatial plans are in place
The European council announced an agreement to establish nature restoration measures. Included in this are plans to protect and restore minimum 20% of EU land and sea by 2030, and all areas in need of restoration by 2050.
Source: European Commission