Carbon tax sought on global shipping

Details to be worked out this year at COP-19 in Singapore.

“MANY in the shipping industry will have assumed that the recent Doha agreement to extend the Kyoto Protocol on climate change had little to do with shipping. It would be easy to assume that shipping is “off the hook” as far as cutting CO2 emissions is concerned, at least for a while. Actually a lot of work went on behind the scenes and the resulting recommendations are almost certainly set to be the subject of open discussion at this year’s Conference of the Parties (COP-19) of the UN Framework Convention on Climate Change (UNFCCC). What is likely to emerge is a way of extracting money from shipping in some sort of levy that, in theory, will be used to combat climate change.” [Business Times]