Shipping emits 2.9 per cent of total greenhouse gases and has largely escaped taxation. Read more at straitstimes.com.
PARIS - More than 20 countries and regional organisations have backed proposals for a levy on shipping industry emissions ahead of an International Maritime Organisation meeting next month, the French presidency said at the end of a Paris summit.
If the IMO, the United Nations body which regulates shipping, taxed carbon emissions, it would encourage shippers to go green faster. The body could then channel the money raised, perhaps US$100 billion a year, to poorer countries to help them cope with climate change.said 23 countries and regional organisations had committed to adopt an ambitious revised IMO GHG strategy at its committee meeting between July 3-7 July 2023.
The countries supported the adoption of the principle of a levy on shipping’s greenhouse gas emissions, the summary said.
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