EU vs IMO - What are the differences between the two Shipping CO2 regulations?
In this video, we compare two prominent Shipping CO2 regulations (EU vs IMO). You learn what are the main differences between the EU MRV Shipping regulation and the fuel oil consumption data collection system from IMO.
Purpose of Data Collection
Both EU and IMO have created a system which requires ship operators to monitor and report on their CO2 emissions. The main purpose of the data collection is to provide policy makers with the information they need to further discuss emission targets and reduction measures. Although both regulations pursue the same goal, there are substantial differences in how they were designed.
EU vs IMO - Main Differences
The most obvious difference refers of course to the scope. The EU only regulates voyages calling a European port, whereas the IMO system covers all voyages.
However, the EU system is more comprehensive in that it not only requires ship operators to monitor and report fuel consumption data but also actual cargo carried.
Another difference lies in how data is verified. Under the EU MRV system, ship operators must make sure their emission reports are verified by an accredited MRV Shipping verifier. As to the IMO scheme, it is the flag state itself which is in charge of the verification.
The last difference I’d like to bring to your attention is that the EU will publish most of the reported data, whereas IMO will only share aggregated anonymised data.
Alignment of EU and IMO system
Until both systems are aligned, we expect them to co-exist for several years. So I encourage ship owners and managers to think about a solution which brings them into compliance with both EU MRV and the IMO data collection system.