The global shipping industry is on course to see its greenhouse gas emissions rise by around a fifth by 2050 if action including introducing a carbon levy on fuel is not taken, new research shows
The Maersk Line container ship Maersk Batam sails in the Bosphorus, on its way to the Mediterranean Sea, in Istanbul, Turkey August 10, 2018. REUTERS/Murad Sezer
However, decarbonisation over the next three decades would in fact be possible if action, including a global carbon levy on shipping fuels, is taken to ensure that zero and low carbon fuels become economically viable and competitive to fossil fuels, he said. Leading shipping associations in September proposed creating a global levy on carbon emissions from ships to help speed up the industry's efforts to go greener and submitted a proposal to the UN's shipping agency, the International Maritime Organization.
The Maersk Mc-Kinney Moller Center for Zero Carbon Shipping said such a levy could be introduced initially at as low as $50 per ton of CO2, with the revenue raised being earmarked for first-movers in the industry to incentivise research and development of alternative fuels. "You then have 99% running on fossil fuel and they are paying for the 1% that are starting to run on the green fuels," Cerup-Simonsen said.The Copenhagen-based non-profit centre was founded last year with funding by shipping giant A.P. Moller-Maersk's
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Carbon needs to cost at least $100/tonne now to reach net zero by 2050: Reuters pollSetting the global average price of carbon per tonne significantly higher at $100 or more is necessary right away to incentivise net zero emissions by 2050, according to a Reuters poll of climate economists.
Read more »
Carbon Offsets Are Used by Companies Seeking ‘Net Zero,’ but Concerns PersistMany companies are turning to offsets to help meet their pledges to achieve “net-zero” carbon emissions, but the lack of consistent standards and oversight makes their effectiveness in cutting emissions hard to gauge
Read more »
Carbon needs to cost at least $100/tonne now to reach net zero by 2050: Reuters pollSetting the global average price of carbon per tonne significantly higher at $100 or more is necessary right away to incentivise net zero emissions by 2050, according to a Reuters poll of climate economists.
Read more »
Major oil producer Saudi Arabia announces net-zero by 2060One of the world’s largest oil producers, Saudi Arabia, has announced it aims to reach “net zero” greenhouse gas emissions by 2060, joining more than 100 countries in a global effort to try and curb man-made climate change.
Read more »
Climate inaction costlier than net zero transition: Reuters pollHitting the Paris Agreement goal of net-zero carbon emissions will require investments in a green transition worth 2%-3% of world output each year until 2050, far less than the economic cost of inaction, according to a Reuters poll of climate economists.
Read more »
Australia's cabinet set to meet on deal for net zero emissions target - sourcesAustralia's cabinet is expected to formally adopt a target for net zero emissions by 2050 when it meets later on Monday to review an deal reached between parties in Prime Minister Scott Morrison's coalition government, official sources told Reuters.
Read more »