Pressure builds for charge on global shipping sector's CO2 emissions

March 18, 2024

BRUSSELS -- The European Union, Canada, Japan and climate-vulnerable Pacific Island states are among 47 countries rallying support for a charge on the international shipping sector's greenhouse gas emissions, documents reviewed by Reuters showed. Support for the idea has more than doubled from the 20 nations that publicly supported a carbon levy at a French climate finance summit last year. Researchers have said a $150 carbon price could make investments in low-carbon ammonia-fuelled systems economic compared with conventional ships. Another submission, from the 27-country EU, Japan, Namibia, South Korea, industry group the International Chamber of Shipping and others, advocates combining a price on shipping emissions with a global emissions standard for maritime fuel. The EU for one has said it may bring more international shipping emissions into its local CO2 market if the IMO does not agree a global emissions price by 2028.

The source of this news is from Tuoi Tre News