40 Years of the IOPC Funds
2018 marks forty years since the entry into force of the 1971 Fund Convention and the establishment of the original International Oil Pollution Compensation Fund. This unique organisation, which brings governments, shipowners and the oil industry together to compensate victims of oil pollution damage, has dealt with some 150 incidents since 1978. It has continued to grow, with the 1992 Fund now counting 115 States as Members. The international liability and compensation regime has also developed and successfully adapted as necessary to new challenges presented by major oil pollution incidents over the past 40 years.
The IOPC Funds continues to successfully fulfil its mission and with the official anniversary falling on 16 October, the Funds will certainly mark this special occasion closer to the time. In the meantime, a commemorative logo has been developed and will be used on various external documentation and online sources throughout the year.