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Shipping industry proposes levy to speed up zero carbon future
(Reuters, 6 Sep 2021) Global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing pressure to get cleaner.
With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing pressure to get cleaner.
For the first time, the International Chamber of Shipping (ICS) and Intercargo jointly proposed a levy based on mandatory contributions for each tonne of CO2 emitted from ships exceeding 5,000 gross tonnes and trading globally.
The money collected would go into a climate fund that would be used to deploy bunkering infrastructure in ports around the world to supply cleaner fuels such as hydrogen and ammonia, according to the proposal.
"What shipping needs is a truly global market-based measure like this that will reduce the price gap between zero-carbon fuels and conventional fuels," ICS Secretary General Guy Platten said.
The proposal was submitted on Friday to the UN's shipping agency, the International Maritime Organization (IMO).
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Reuters, 6 Sep 2021: Shipping industry proposes levy to speed up zero carbon future
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