(www.MaritimeCyprus.com) Trafigura, one of the worldâs largest ship charterers, proposes that the International Maritime Organization (IMO) introduces a carbon levy of between US$250 and US$300 per metric tonne of CO2 equivalent on shipping fuels, in order to make zero- and low-carbon fuels more economically viable and more competitive, towards decarbonisation.
Reducing shipping emissions is a vital component of the fight against global climate change, yet greenhouse gas emissions from the global maritime sector are increasing.
According to an International Maritime Organisation (IMO) study published in August 2020, emissions are projected to increase by as much as 130% by 2050 compared to 2008 levels if mitigation measures are not urgently put in place.
Read Trafiguraâs proposal for IMO member states to help accelerate progress towards the decarbonisation of the shipping industry via the introduction of a levy on carbon-intensive marine fuels to accelerate the development and competitiveness of zero- and low-carbon alternative fuels.
The revenue raised by the levy would primarily be used to subsidize and incentivize low and zero-carbon fuels and subsequently also be used to fund the research and development of alternative fuels, and in part to help Small Island Developing States and other developing countries with the energy transition and to mitigate the impact of climate change.
Click on the below image to download the paper.
More proposals for decarbonisation in shipping:
- From the International Transport Forum
- From the American Bureau of Shipping
- From International shipowner associations
- From the UK Department of Transport
- From Shell
- From a shipping industry reporter