The shipping industry cannot invest in environmental and social improvements required by regulators unless it is commercially viable, the International Chamber of Shipping Director of Policy and External Relations Simon Bennett said at a United Nations panel meeting in New York.
ICS noted that the collective cost to the shipping industry of implementing new environmental regulations, which was already starting to be felt, was estimated to be in excess of USD 500 billion over the next 10 years, something which had not been fully taken into account when the rules were adopted.
Government regulators therefore needed to give equal priority to each of the three pillars of sustainable development, including the economic, which was especially important in view of shipping’s role in continuing the spread of global prosperity.
ICS therefore suggested that the conduct by the International Maritime Organisation (IMO) of full and proper cost benefit analysis of all new future regulatory proposals would help to ensure the delivery of sustainable development, consistent with the goals agreed by the United Nations.
At the New York meeting, ICS also commented on the recent decision by the UN, in January 2015, to recommend that UNCLOS should be expanded to include a new legally binding instrument on the conservation of marine life in areas beyond national jurisdiction, which could include tools such as ‘High Seas’ Marine Protected Areas.
”ICS sees benefit in the designation of High Seas protected areas, to address issues such as unregulated fishing, but it should be borne in mind that under the authority of UNCLOS, shipping is already comprehensively regulated by IMO,” ICS Director of Policy and External Relations Simon Bennett said.
”While the shipping industry recognises that the regulation of other ocean activities, especially on the high seas, may not be so well developed, we do think great care should be taken with regard to the current balance that exists between the rights and obligations of states in their flag, coastal and port state roles. In the context of regulating international shipping, the current balance has worked very well, as demonstrated by the sustained increase in the efficiency of shipping and the dramatic reduction in the number of shipping and pollution incidents.”