IMERS International Maritime Emission Reduction Scheme

IMERS is an initiative to establish an ...

International Maritime Emission Reduction Scheme

under the governance of IMO (International Maritime Organization) with an ambitious goal to halve shipping emissions over long-term.

It is based on a vision of Dr Andre Stochniol to create a lowest cost scheme to reduce greenhouse gas (GHG) emissions from international maritime transport by a market mechanism combining:

Near-term emission mitigation, including purchasing of emission credits

Technology fund focused on bringing forward technology transformations, such as hydrogen transport

Funding for adaptation to climate change in developing countries.

The scheme is based on introducing a low harmonized charge depending on the GHG emissions above a predetermined emission goal or cap (according to the polluter pays principle). The monies raised will be used to achieve the near- and longer-term mitigation and adaptation goals.
The differentiated approach to climate change for developing countries is achieved at two points:

• At the point of collection by, in effect, differentiated charges (a small effect)
  
• Mostly, at the point of distribution by providing very significant contributory funding to adaptation to climate change in these countries ($2bn - $4bn annually, in relation to the emission goal), and by financing for technology transfer (part of $2bn annually technology fund).
  

Short credentials and summary is provided.