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The purpose of this chapter is to introduce the concept of Market Based Measures (MBMs) to reduce Green House Gas (GHG) emissions from ships, and review several distinct MBM proposals that have been under consideration by the International Maritime Organization (IMO). The chapter discusses the mechanisms used by MBMs, and explores how the concept of the Marginal Abatement Cost (MAC) can be linked to MBMs. It also attempts to discuss the pros and cons of the submitted proposals.
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Bahamas. (2010). Market-based instruments: A penalty on trade and development proposal by the Bahamas. IMO doc. MEPC 60/4/10.
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Psaraftis, H. N. (2012). Market based measures for green house gas emissions from ships: A review. WMU Journal of Maritime Affairs, 11, 211–232. CrossRef
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UK. (2010). Global emissions trading system (ETS) for international shipping proposal by the United Kingdom. IMO doc. MEPC 60/4/26.
USA. (2010). The United States proposal to reduce greenhouse gas emissions from international shipping, the ship efficiency and credit trading (SECT). IMO doc. MEPC 60/4/12.
WSC. (2010). Vessel efficiency system (VES) proposal by World Shipping Council. IMO doc. MEPC 60/4/39.
- Green Maritime Transportation: Market Based Measures
Harilaos N. Psaraftis
- Chapter 8
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