Tag: carbon tax

The International Monetary Fund (IMF) has called for carbon taxes to be introduced for both shipping and aviation to help reduce global greenhouse gas emissions

The International Transport Federation (ITF) has pointed out that an absolute emission reduction target can be set for the shipping sector, but it would be “impossible” to set such a target for nations, The Hindu Business Line reports.Global shipping firms will have to shell out about $400,000 annually for each ship they own, if ITF's proposal to introduce a carbon tax on ships is accepted.Olaf Merk, author of an ITF policy paper, said: “As some sort of very rough average, the $25-per-tonne of CO2 tax would imply additional costs of $400,000 per year per ship (domestic shipping not included), considering that the global fleet is around 50,000 ships and carbon emissions from international shipping around 800 million tonnes.”In an emailed interaction with BusinessLine, he said carbon tax is “linked to fuel use” in a move that will incentivise ship owners to make their ships “more fuel efficient”. They could practise slow steaming (operating transoceanic cargo ships at significantly less than their maximum speed) to consume less fuel.The  International Transport Forum (ITF) has issued a policy brief to argue that IMO should impose a carbon tax for shipping and to call for immediate action to halve shipping emissions by 2050.ICS has commented  on ...

 ICS comments on   International Transport Forum's proposals  (ITF, a think tank affiliated to the OECD)  which suggest a carbon charge for shipping and says that shipping should not be treated like an OECD economy.ICS questions why international shipping should accept a carbon price of $US25 per tonne of CO2, as proposed by the International Transport Forum (ITF). This would be almost three times higher than the carbon price paid by shore based industries in developed nations.  About 70% of the world merchant fleet is registered in UNFCCC ‘non-Annex I’ developing countries, and maritime trade is of vital benefit to rich and emerging economies alike.  ICS emphasises that shipping is committed to reducing CO2 and has a responsibility to contribute to the achievement of the United Nations ‘2 degree’ climate change goal.  But the UNFCCC recognises that developed and developing nations should accept differing commitments, and shipping is no different, especially in view of its vital role in the movement of about 90% of global trade. While China and India, for example, have already made positive CO2 reduction commitments to COP 21, these will not deliver absolute CO2 reductions for several years.  Some richer nations, however, consistent with the UNFCCC CBDR principle, have made more ambitious commitments. Shipping ...

 The  International Transport Forum (ITF) has issued a policy brief to argue that IMO should impose a carbon tax for shipping and to call for immediate action to halve shipping emissions by 2050.At a glanceCurrent measures will mitigate ship emissions to some extent, mainly through better energy efficiency of ships.Lower speeds, higher utilisation, better ship designs and alternative energy sources can further reduce ship emissions.Sectoral and institutional complexities must be overcome to create impact.A target for shipping emissions, an action plan for implementation and a carbon tax for shipping, the receipts of which could feed into the Green Climate Fund are needed.The facts International shipping contributed to around 0.8 billion tonnes of CO2 emissions globally in 2012. This represented 2.2% of worldwide carbon emissions. Of these, 62% came from three sorts of ships: container ships, bulk carriers and tankers (2012 figures).Since 1990, shipping emissions have doubled, despite a 10% decrease during the economic downturn between 2007 and 2012. The CO2 emissions from maritime transport in 2050 are projected to be between 50% and 250% higher than current levels, depending on how global trade increases in different scenarios. This would mean that shipping emissions in 2050 could represent up to 14% of ...