MEPC 83: Green fuel investments need policy backbone - Methanex

Regulatory clarity is essential to “underpin investment” in low greenhouse gas (GHG) emission fuels, methanol producer Methanex said in a social media post.

PHOTO: A Methanex-owned methanol production plant. Methanex

The IMO’s Marine Environment Protection Committee (MEPC) must ensure that its framework makes non-compliance and pay-to-pollute pathways unattractive to the shipping industry, Methanex wrote.

“An agreement would be historically significant: the shipping industry would be the first global industry on a regulatory course to reach net zero by 2050,” the company said.

MEPC is expected to finalise mid-term measures this week, with possible adoption at its next meeting in October.

By Konica Bhatt

Please get in touch with comments or additional info to news@engine.online