In addition, the third IMO GHG study was finalized, providing an updated estimate of CO2 emissions from
international shipping over the period 2012–2050, and several regulatory measures were adopted at IMO to strengthen the legal framework relating to ship-source air pollution and the reduction of GHG emissions from international shipping. Guidelines for the development of the Inventory of Hazardous Materials, required under the 2010 HNS Convention, were adopted, and further progress was made with respect to technical matters related to the implementation of the 2004
BWM Convention and the 2009 Ship Recycling Convention. Following the decision of the IMO Legal Committee that there was no compelling need to develop an international convention, the important issue of liability and compensation for transboundary pollution resulting from offshore oil exploration and exploitation remains, for the time being, outside the
ambit of international regulation.