The Environmental Defence Fund (EDF), has expressed its support for a shipping carbon levy, saying that it would serve as a key economic measure to incentivize the transition to clean shipping.
According to EDF, by placing a fixed contribution on emissions, the levy would generate substantial funds that could be used to promote the adoption of sustainable fuels and cleaner technologies. Additionally, it would help finance the needs of climate-vulnerable developing economies, ensuring that they are not disproportionately impacted by the costs of decarbonization.
The future of a healthy global trade system will be in the hands of the International Maritime Organization next week. Environmental Defense Fund urges member states to seize the momentum to co-design a strong carbon pricing mechanism.
… said Angie Farrag-Thibault, Associate Vice-President, Global Transportation.
The levy, combined with a global fuel standard that accounts for the full lifecycle emissions of marine fuels, is seen as one of the fairest and most cost-effective ways to decarbonize the shipping industry. It would provide a predictable and transparent pricing structure, encouraging investment in green shipping solutions while protecting the environment and supporting economic equity, EDF supports.
A flat contribution on emissions, for example in the form of a levy, combined with a global fuel standard that accounts for the full lifecycle emissions of marine fuels will be the fairest and most cost-effective way to decarbonize shipping by bringing more sustainable fuels to market, protecting vulnerable communities and the environment, and ensuring a thriving maritime industry.
… explained Angie Farrag-Thibault
These economic measures, including the details of the levy, will be further debated at the upcoming 82nd meeting of the IMO’s Marine Environmental Protection Committee (MEPC).
