FIPOL

AcronymDefinition
FIPOLFonds Internationaux d'Indemnisation pour les Dommages dus à la Pollution par les Hydrocarbures (French: International Fund for Compensation for Oil Pollution Damage)
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The French Ministry for Foreign Affairs has announced that the International Fund for Compensation for Oil Pollution Damage (FIPOL) has raised its compensation ceiling to Euro 274 million, well below the amount France had been asking for.
The Commission will also push for higher compensation within the International Compensation Fund for Damage caused by Hydrocarbon Pollution (FIPOL).On the social front, the Commission plans to get tough with enforcement of existing Directives.
The CRPM already has observer status on FIPOL, the compensation fund for maritime pollution.
The three countries also support a Commission proposal to raise Fipol compensation ceilings (International Compensation Fund for damage due to hydrocarbon pollution) to a billion Euro.
- it calls for the European Union Solidarity Fund on hydrocarbon pollution to also cover environmental and ecological damage (the creation of an additional fund alongside Fipol is currently being examined by the International Maritime Organisation (IMO); if it were not introduced, or if the intervention ceiling were judged to be insufficient - below a billion Euro - a Regulation establishing an additional European Fund should be adopted before the end of 2003); if all environmental damage were not comprehensively covered by such a fund, the Council urges the Commission to bring forward appropriate legislative proposals before July 2003;
To date, the Member States have refused to debate the proposal, voicing a preference for the creation of a similar fund within the International Oil Pollution Compensation Fund (FIPOL).
In this context, the Commission recalls the existence of the FIPOL compensation fund which provides scope for compensation up to Euro 200 million, which can be supplemented by private insurance.
It can be forfeited if it transpires that the damage from the oil spill is the result of a personal act or failure to act by the owner of the vessel, committed with the intention of producing such damage or in the knowledge that such damage could occur;- the FIPOL Convention of 1971: compensates victims when the liability of the vessel's owner is not sufficient to cover the damage.
The charter offers a code of conduct applicable to all the signatories (ship owners, oil tankers, including TotalFina - classification societies and international organisations - Fipol IMO, for example).