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A global carbon trading mechanism or a system of additional fuel levies would provide a more effective means of curbing greenhouse gas emissions from shipping than incorporating the industry into the EU Emissions Trading Scheme (ETS).
That is the view of UK trade body the Chamber of Shipping, which released new 'manuals' yesterday outlining how both market-based policies could work.
The move came just days after the group publicly dismissed the EU's plans to pull the international shipping industry into its emissions trading scheme.
The international shipping industry's agreement last month to mandatory fuel efficiency standards for new ships has not stopped the EU pursuing its 2005 proposal to include shipping in the ETS from 2013 - an idea that has gained traction with politicians and green groups keen to curb the shipping sector's growing carbon footprint.
Over 1.1 billion tonnes of carbon are emitted each year by ships, around three per cent of the global total and greater than all but four countries - China, the US, India and Russia. With an anticipated long-term increase in global trade, the sector's emissions are expected to double over the coming decades if no action is taken to curb emissions.
Shipping is in a similar situation to the aviation industry, which is to see all flights in and out of the EU included in the ETS from the beginning of next year, assuming that the ongoing legal action from US airlines challenging the decision is resolved and the EU can face down similar complaints from airlines in China, Russia and a number other countries.
Complete Post at:
http://www.businessgreen.com/bg/news/2100888/shipping-trade-body-floats-global-emissions-reduction-plan
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