A comparative analysis between EU MRV and IMO DCS – the need to adopt a harmonised regulatory system

This paper analyses and compares the two methods proposed for monitoring, reporting and verifying CO2 emissions from shipping, namely the European Union MRV Regulation (EU 2015/757) and the Global Data Collection System of the IMO for fuel oil consumption of ships adopted as an amendment to MARPOL Annex VI in 2016. The two systems differ considerably in many aspects, such as, for example, the IMO DCS requires the reporting of ships' fuel consumption data, while the EU MRV involves the reporting of CO2 emission; the weight of cargo carried and energy efficiency. As recently as February 2019, efforts have been made to achieve a harmonised approach to both systems, thus supporting compliance and minimising extra administrative costs incurred on shipping companies. The EU MRV system maintains the provisions on publication of individual ships’ data of CO2 emissions and energy efficiency, thus keeping transparency as one of its key advantages.