The Ministry of Transport said it was reserving its position and officials wanted to do some more analysis before any formal adoption at the next meeting of the International Maritime Organisation (IMO) in October.
Another relevant factor to consider must certainly be the security and value of our maritime trade.
Shipping emissions are important to us because all our imports and exports will travel vast distances, most of it by ship.
Another important issue is cost. As we decarbonise, how do we prevent costs from spiralling until a low-cost and low-carbon solution is found?
Exporters such as Fonterra and Zespri have already faced consumer pressure to show they plan to cut their emissions.
Shipping carries 99% of New Zealand’s trade by volume and about 80% by value, according to Zespri.
In 2023, countries in the IMO unanimously agreed the international shipping sector would cut its emissions to net zero by or about 2050.
While emissions from shipping are significantly less than aviation, it is a bold target and something we should strive for. But will consumers continue to support the goal if goods become more expensive?
Other Pacific nations to abstain from the vote included Fiji, Kiribati, Vanuatu, the Marshall Islands and Tuvalu. The Cook Islands, Tokelau and Samoa voted for the agreement.
Many Pacific leaders reportedly said the deal was too little to help them adapt to climate change.
Predictably, Saudi Arabia, Russia and the United Arab Emirates voted against the deal. But other large nations voted in favour, including our biggest trading partner, China.
The US, meanwhile, pulled out of negotiations.
Zespri is an example of how we can, through indivdual companies and collectively, do our part.
The kiwifruit company and a shipping partner have trialled burning biofuel made from blended cooking oil on shipping between Hong Kong and Tauranga.
It is also studying a possible low-emissions shipping corridor between Tauranga and Belgium via the Panama Canal.
This is exactly the type of ingenuity from individual companies we are proud of and need.
If we can lower emissions without shifting the burden to consumers’ wallets, that’s a win-win.
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