Maritime sector floats fuel levy to help cut carbon

Major international maritime organisations recently proposed a new fuel levy to help slash carbon emissions from one of the world’s most polluting sectors, as they eye Paris climate change targets.

Seven global shipowner associations -- including Bimco, Intertanko and the World Shipping Council -- announced in a statement that they want to tax commercial shipping firms US $ 2 per tonne of fuel to raise US $ 5.0 billion (4.5 billion euros) for a new research group to reduce their carbon usage.

The International Maritime Research and Development Board (IMRB) intends on working towards eliminating carbon dioxide emissions from the industry -- and develop commercially-viable zero-carbon emission ships by the early 2030s.

The seven shipowner organisations also include the Cruise Lines International Association, Intercargo, International Chamber of Shipping and the International Parcel Tankers Association.

“International maritime transport carries around 90 percent of global trade and is currently responsible for approximately two percent of the world’s anthropogenic CO2 emissions,” the statement said.

“To achieve the Paris Agreement’s climate change goals, rapid decarbonisation is vital -- also for international shipping.”

The landmark 2015 Paris accord aims to cap global warming at two degrees Celsius (3.6 Farenheit) and requires nations to submit individually defined plans to slash the greenhouse gas emissions that are driving the mercury up.

Global shipping regulator the UN International Maritime Organisation (IMO) is responsible for regulating the lowering of CO2 emissions by shipping companies.

“The industry-wide move to accelerate research and development is necessary to ensure the ambitious CO2 reduction targets agreed to by IMO member states in 2018 are met,” the statement added on Wednesday.

“These ambitious IMO targets include an absolute cut in the sector’s total greenhouse gas emissions of at least 50 percent by 2050, regardless of trade growth, with full decarbonisation shortly after.”