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Market-Based Measures for Reducing CO2 Emissions in International Shipping

Monday, 16 October 2017
12:00 noon to 1:00 pm
ESI Conference Room
Ms. Lee Xin Ni

Abstract:

Increasing CO2 emissions in international shipping sector has necessitated the consideration of a range of CO2 reduction measures such as Market-Based Measures (MBM), also known as Market-Based Instruments, alternative fuels, technical and operational measures. This seminar focuses on MBMs and their suitability for international shipping.

The analysis begins with a systems perspective of how MBM may lead to CO2 reduction, followed by a definition of two fundamental types of MBMs – bunker levy, a form of tax on fuel, and emission trading system. Next, key criteria used to assess MBM are consolidated from various sources. Comparing the two MBMs based on these criteria leads to the view that bunker levy is easier to implement. In view of the cumulative effect of CO2 and the time and resources required for technology change, it is argued that international shipping should adopt bunker levy in the immediate term while searching for a suitable MBM in the long term.

This research area forms part of a joint project between Centre of Maritime Studies and ESI.

About the Speaker:

Lee Xin Ni has been a Research Engineer at Centre of Maritime Studies since July 2017. She graduated with a Bachelor degree in Industrial Systems Engineering and Management from National University of Singapore in June 2017 and is currently pursuing her Master of Engineering (Industrial Systems Engineering and Management). Her research interest lies in market-based mechanisms to reduce CO2 emissions, particularly for the international shipping sector. Further research areas include policy design, impact assessment of market-based measures and CO2 emission reduction measures applied to territorial-based and international aviation sectors.