Greener Shipping Summit was organised by Naftiliaki / Newsfront

Applying a global cap on CO2 emissions will impose a cap on global growth, says leading Greek shipowner Philip Embiricos. «Capping shipping emissions is capping trade and therefore limiting the growth of emerging countries,» Embiricos told the Greener Shipping Summit in Athens.

«Shipping emissions reductions should be targeted on a per tonne mile basis and not on an aggregate total,» he told the packed summit discussing removal of shipping’s carbon footprint.
The immediate past president of shipping’s largest and most representative body, the Baltic and International Maritime Council (Bimco) Embiricos also warned “reducing emissions optimally is a series of simultaneous equations” and they have to be dealt with also.

«As the heavy industry in developed countries stabilises or even decreases, so do the sector’s emissions. For shipping the movement of raw materials to these countries is not increasing. Conversely emerging countries are fast growing importers of raw materials and their global share is well in excess of developed nations,» said Embiricos.

Full article, ELNAVI, December 2011, Issue 456, Page. 110

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