IMERS International Maritime Emission Reduction Scheme

The scheme complies with calls from China, Saudi Arabia and other countries. The concept has already received political support in the IMO from around three dozen states.
It will deliver the 4 major blocks from the Bali Roadmap in the following way:

1. Mitigation --> halving emissions from international maritime transport
   
2. Adaptation --> reducing the gap in adaptation funding by $2.5bn+ annually, operational from 2012
   
3. Technology Transfer & Innovation --> Breakthroughs & Technology Fund, Infrastructure Improvements
   
4. Adequate & predictable funding --> Funds from emission charge, set 1 year in advance by a fair formula; about $6bn annually (from Annex I countries only)

While not curtailing growth of developed countries as the impact on end user prices is minute of 0.1%. No impact on customers in developing countries. Further differentiated mechanisms have been built-in to differentiate country commitments, as well as impact on customers importing merchants goods versus susbsistence food.

Importantly, the scheme is based on solid foundation that include: