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Regulating global shipping corporations' accountability for reducing greenhouse gas emissions in the seas

Rahim, Mia Mahmudur and Islam, Md Tarikul and Kuruppu, Sanjaya (2016) 'Regulating global shipping corporations' accountability for reducing greenhouse gas emissions in the seas.' Marine Policy, 69. 159 - 170. ISSN 0308-597X

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Abstract

Up until the recent oil and commodity price crash in 2015, there has been exponential growth in global shipping and trade, and this increase means that prompt action is required to reduce vessel-sourced greenhouse gas (GHG) emissions. Future projections suggest that maritime CO2 emissions will increase substantially by between 50% and 250%. However, there is currently no international instrument holding global shipping corporations accountable for their vessels' performance in emissions reduction. This article critically assesses the current accountability practices and regulations in place for these corporations. It suggests that stakeholders in this industry need to further explore the market based mechanisms (MBMs) that can encourage and even demand that these corporations systematically disclose their vessels' emissions reduction performance in an accurate and timely manner. Developing such mechanisms is vital to assist in the reduction of GHG emissions since a comprehensive international instrument is unlikely to be implemented soon.

Item Type: Article
Uncontrolled Keywords: Shipping corporations, Greenhouse gas emissions, Accountability, New governance, International regulations
Subjects: G Geography. Anthropology. Recreation > GE Environmental Sciences
H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Accounting Centre
Depositing User: Elements
Date Deposited: 06 Feb 2019 19:58
Last Modified: 06 Feb 2019 19:58
URI: http://repository.essex.ac.uk/id/eprint/24006

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