2) The volume and certainty of CO2 reductions
achieved by the MBMs considered for the time
frame (2015–2025) in this study are comparable
to each other, although emission reductions from
project-based emissions reductions (offsets) are
the most significant. In the longer term, innovations
in fuel-efficiency may decrease in-sector emission
reductions costs and the associated in-sector CO2
reductions could be more significant.
3) In most cases, aviation MBMs have larger
economic impacts than those associated with
the implementation of shipping schemes. Aviation
has larger impacts on tourism, and shipping is
less responsive to price increases and less carbon
intensive.
4) Countries with a higher dependency on tourism
and trade are likely to experience greater economic
impacts. Some of these countries are small island
developing states that are also vulnerable to climate
change impacts.
5) Undesired economic impacts can be addressed.
However, since the factors that cause these vary
between countries, applicable measures vary as
well. Instead, a combination of appropriate measures
could be taken to address the impacts in question.
Exemptions, lump-sum rebates, investments in
infrastructure efficiency and into the development of
more efficient ships and aircraft could be considered.
At the IMO, discussions related to market-based
measures have been ongoing for several years, but are
moving only slowly. A number of revised and updated
proposals were submitted at the sixty-fourth session
of the MEPC. However, due to time constraints, the
Committee agreed to postpone relevant detailed
debate to the sixty-fifth session. In addition, the cosponsors32
of one of the submissions (IMO, 2012d)
suggested that high priority should be given to the
development of an MEPC resolution to ensure that
financial, technological and capacity-building support
from developed countries for the implementation
of regulations on energy efficiency for ships by
developing countries. Hence, they considered that all
further decisions on MBMs must await the adoption
of this resolution, and that future consideration of
MBMs must fully take into account potential impacts
of those measures on developing countries. As a
result, pending the adoption of the resolution, during
its sixty-fifth session, the MEPC agreed to suspend
discussions on market-based measures and related
issues to a future session