Course to Zero

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3 key drivers for  decarbonization

Regulations and policies | Expectations from cargo owners | Access to investors and capital

These three key drivers can incentivize decarbonization in different ways. Regulations and policies will place direct requirements on ships and shipping companies. Expectations from cargo owners, and access to investors and capital, will benefit environmentally friendly shipping, for example, through higher chartering fees, or access to low-cost financing.

Behind all three drivers is the more climate-conscious behavior affecting the way people act as consumers, voters, and investors, caused by the increased public awareness of climate change.

Information on each requirement

  • EEXI is a technical requirement that will be applicable for vessels in operation from 2023.

    It will impose a requirement equivalent to EEDI Phase 2 or 3 (with some adjustments) to all existing ships (see example for container vessels in Figure 3‑5). The scope is the same ship types and sizes to which the EEDI applies but includes all ships regardless of the year of build.

  • EEXI is a technical requirement that will be applicable for vessels in operation from 2023.

    It will impose a requirement equivalent to EEDI Phase 2 or 3 (with some adjustments) to all existing ships (see example for container vessels in Figure 3‑5). The scope is the same ship types and sizes to which the EEDI applies but includes all ships regardless of the year of build.

  • CII (Carbon Intensity Indicator) rating is an operational requirement that will be applicable for ships in operation from 2023.

    All cargo, RoPax and cruise ships greater than 5,000 GT will need to calculate a CII, and will be assigned an annual rating of A to E.

     

  • Enhanced SEEMP is an operational requirement applicable for vessels in operation by 1 January 2023.

    All ships subject to the CII requirements need to keep on board an approved SEEMP which must include mandatory content, such as an implementation plan on how to achieve the CII targets. The implementation of the SEEMP will also be subject to company audits, although the specific requirements to the audit are still under development and are expected to be approved by the IMO in June 2022.