Tag: carbon tax

A universal, global carbon tax on shipping is coming, as alternative blue fuels made with carbon capture emerge as a critical step in the energy transition at sea, Christopher J. Wiernicki, ABS Chairman and CEO, said during CERAWeek.

Ships sailing to European ports will be required to pay a combined carbon emissions tax of US $3.6 billion next year. This is the beginning of a fee that will almost surely increase as the region intensifies its efforts to tackle climate change, Bloomberg highlights. 

The Nairobi Declaration, signed by 20 African countries last week at the Africa Climate Summit in Nairobi, calls for new global taxes to fund their climate change action and adaptation, a move that could dramatically shift the balance of country positions at the IMO.

The Canadian Association of Energy Contractors (CAOEC), representing Canada's oil and gas drilling sector, is lobbying the government for a 50-per-cent-refundable tax credit for drillers seeking to develop and deploy new carbon abatement technologies.

Maersk called for a $450-a-ton carbon tax on shipping fuel that would help bridge the price gap between fossil fuels and greener alternatives.

The French government has called on the European Union to work on creating a tax on bunker and aviation fuel as part of its strategy for reducing carbon emissions and achieving a sustainable environment. The French Finance Minister Bruno Le Maire commented that taxes for carbon emissions should be implemented also to aviation and ships, not only to cars. 

Taxing polluting sources of energy is an effective way to reduce emissions that damage the planet and human health, while the income generated can be used to ease the low-carbon transition for vulnerable households. However, 70% of energy-related CO2 emissions from advanced and emerging economies are untaxed, a new OECD report says.

While speaking to young Māoris and people of the Pacific islands in New Zealand, the UN Secretary-General, António Guterres highlighted four key measures that Governments should follow and prioritize to achieve the goal of carbon neutrality by 2050.

According to the New Zealand Shipping Federation, carbon charges to local shipping companies are estimated to be approximately $250,000 per ship each year while foreign container ships that visit New Zealand ports do not pay emissions costs.

A CO2 tax for companies should be the foundation of the imperative renewable energy revolution. The fact that the COP21 climate agreement does not mention this political measure with respect to reducing global emissions, is a major missed opportunity, according to Wouter Last, president of plant IT and engineering specialist at Dutch technology company Hint