Latest webinar in the IOPC Funds’ series delivered, focusing on how the system is financed

The second module in the IOPC Funds’ webinar series,  “Financing the system”, is underway with the first webinar in that module having taken place on 17 January 2023.

Policy Officer, Yuji Okugawa, delivered a concise 15-minute presentation entitled “Why are oil reports essential?”. He explained the critical role played by receivers of oil in Member States, who are responsible for submitting oil reports to their government based on the amount of oil they import.  He also outlined the obligations and responsibilities of Member States emphasising the importance of timely submission of oil reports to the IOPC Funds.  Additionally, he highlighted the significance of strong cooperation between the IOPC Funds, the oil industry and the oil reporting authorities in Member States, explaining why the submission of the reports is crucial in ensuring the proper functioning of the international liability and compensation regime.

The webinar series, which is being delivered initially in English only, is open to any interested party, and participants can opt to attend either the full series or only those webinars of particular interest to them.   Divided into four modules, the full programme (available here) consists of a total of 11 webinars covering everything from the basic understanding of the Conventions, to the financing of the system, the types of claims that arise from tanker incidents and the claims submission process.

The next webinar in the current module, “Financing the system”, is set to take place on 28 February 2024.  Entitled “How much money is needed”, this session will explore the mechanisms ensuring the availability of adequate funds in the system to compensate victims of oil spill incidents.  To register for the next event, please complete the online registration form, and select your preferred time slot.