IMERSInternational Maritime Emission Reduction Scheme (non-profit organization)
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IMERS could provide a global fund worth $11 billion annually for climate change measures in the developing world and to fund technology to reduce ship emissions.
IMERS has been made more "US-friendly" in the hope that America will lead its introduction in the coming months.
Stochniol is financing IMERS out of his own pocket, although he will meet with potential investors this week.
The revenues generated from IMERS would be collected by a "supranational" body and given to developing nations, rather than being collected by governments.
He resigned from a consulting business to pursue the IMERS scheme.