The liner shipping industry, through its World Shipping Council, has proposed a regime for improving ocean-going vessel emissions worldwide.  

It’s a good move.  The WSC considered what proposals were already on the table–fuel tax and emissions trading system–and offered something different and credible.

The Vessel Efficiency System (VES) takes a cue from regulatory regimes like American CAFE (Corporate Average Fuel Economy) standards for vehicles.  Reduce fuel consumption and increase efficiency to reduce carbon emissions.

An international standard is a must for such a borderless, multinational industry.  

The industry knows that at least one proposal on the table has in mind using ocean shipping as a revenue source for the broader GHG reduction strategy discussed at COP15 in December.   Simply, a tax on bunker also would not address enviro complaints that emission reduction is not directly addressed.

WSC doesn't want GHG tax revenues raised on ships to stray far and so proposes "that some significant portion of the funds be dedicated" to R&D "targeted at increasing the energy efficiency of the world’s fleet."

Presumably the proposal will have some support among major flag nations.  

Undoubtedly the proposal will be picked apart in some quarters.  But then WSC President Chris Koch and environmental VP Bryan Wood-Thomas know that.   

Better to have your own proposal in the mix - "The Committee is invited to consider the information in this document and take action as appropriate."

The full document is here .