• Wednesday, May 25, 2022
  • Last Update : 04:24 pm

Shipping industry proposes levy to speed up zero carbon future

  • Published at 05:02 pm September 6th, 2021
container-ship-japan
File Photo: A container ship unloads at the Matautu port, which has been expanded through support from Japan, in the Samoan capital of Apia, July 12, 2019 Reuters

For the first time, the International Chamber of Shipping (ICS) and Intercargo jointly proposed a levy based on mandatory contributions by ships trading globally, exceeding 5,000 gross tonnage, for each tonne of CO2 emitted

Leading shipping associations have proposed creating a global levy on carbon emissions from ships to help speed up the industry's efforts to go greener.

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 by ships trading globally, exceeding 5,000 gross tonnage, for each tonne of CO2 emitted.

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).

An IMO spokesperson said all proposals were welcome and would be up for discussion later this year, adding that "proposals on market-based measures are in line with the initial IMO GHG (greenhouse gas) strategy".

The IMO will hold an intersessional working group meeting scheduled for late October, ahead of a late-November session of the Marine Environment Protection Committee, which will address issues including carbon-reduction efforts.

The European Commission in July proposed adding shipping to the bloc's carbon market, targeting an industry that had for more than a decade avoided the EU's system of pollution charges.

The ICS said "piecemeal" approaches such as the EU's proposal would significantly complicate "the conduct of maritime trade".

50
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail