Consideration of a “Green Balance Mechanism” (ISWG-GHG 16/2/4 )
This paper outlines how development of a ‘Green Balance Mechanism’ (GBM) can help deliver the environmental outcomes identified in IMO’s 2023 GHG Strategy while also providing a targeted economic and regulatory means to incentivise and enable the use of net-zero and near-zero fuels and technologies critical to the needed energy transition. The Green Balance Mechanism is designed to work as part of an integrated measure, a levy / GHG Fuel Intensity (GFI) approach, or as a hybrid measure to be considered in the development and discussion of mid-term measures.