S6 Ep8: Amb. Albon Ishoda, Marshall Islands’ Special Envoy for Maritime Decarbonisation, and Dr Edmund Hughes, IBIA Representative to the IMO

In this special episode, representatives from Small Island Developing States (SIDS) and the bunkering industry lay out their hopes and expectations ahead of the IMO’s MEPC 83 meeting, which is set to approve potentially ‘game-changing’ measures for shipping’s energy transition. Ambassador Albon Ishoda, Marshall Islands’ Special Envoy for Maritime Decarbonisation, and Edmund Hughes, IBIA’s Representative to the IMO, concur in calling for Member States to agree a strong economic measure or greenhouse gas levy when they meet in London. They highlight the ‘vast’ needs to both fund shipping’s energy transition and build climate resilience in developing countries. Ambassador Ishoda explains why a GHG levy – something that Pacific and Caribbean SIDS have been demanding for years – is one of the most important elements that he wants to see in the final agreement. He also argues that the price of this levy must be ‘high enough’ so that in addition to incentivising new fuels and technologies, revenues can also be used to support developing countries that are experiencing first-hand the impacts of climate change. IBIA’s Edmund Hughes also backs the proposal of a fund supported by a levy or anothersimilar maritime GHG pricing mechanism. He believes this has the potential to be a game-changer, by providing the clear demand signals needed by the industry to invest in the production and bunkering of low- and zero-carbon fuels for shipping.Both guests share their thoughts on whether an agreement can be reached at MEPC 83, despite fundamental differences in opinions between countries and amid changing geopolitics. Although the GHG levy proposal has gained momentum and is now backed by more than 50 countries, it is opposed by others who cite concerns about potential impacts of a levy on economies, shipping prices, and food security. Hughes and Ishoda also give their views on what will come after MEPC 83: how the industry and financiers might respond to an economic measure, and how a potential IMO Fund could help build climate resilience in developing countries.