Moving sustainable shipping forward: The potential of market-based mechanisms to reduce CO2 emissions from shipping
- Judith van Leeuwen
- Kris van Koppen
Van Leeuwen, Judith and Kris van Koppen. “Moving Sustainable Shipping Forward The Potential of Market-based Mechanisms to Reduce CO2 Emissions from Shipping.” The Journal of Sustainable Mobility. 3.2. (2016): 42-66.
This paper examines the potential of market-based mechanisms (MBMs) as effective tools for influencing actors in the shipping industry towards lowering carbon emissions. The research indicates that the crisis-oriented nature of most companies within the shipping industry negatively influences the potential for the MBMs being considered by the IMO to curb shipping’s contribution to climate change. This is due to the lack of regulatory and market incentives to go beyond compliance, the competitive and cost-sensitive nature of the industry, the lack of preventive technologies to limit environmental risks of shipping, the invisibility of the sector to the wider public, and the lack of knowledge of the actual environmental performance of individual ships.