ICS sets out plans for global carbon levy to expedite industry decarbonization

Chamber of Shipping > Blog > News > International > ICS sets out plans for global carbon levy to expedite industry decarbonization

The global trade association for ship operators, the International Chamber of Shipping, (ICS) has put forward a comprehensive proposal for a global levy on carbon emissions from ships, in what would be a first for any industrial sector. ICS, which represents the world’s national shipowner associations and more than 80% of the merchant fleet, presented a submission to the UN on Friday, calling for an internationally accepted market-based measure to accelerate the uptake and deployment of zero-carbon fuels. According to papers handed to the International Maritime Organisation (IMO), the UN’s regulatory body on shipping, the levy would be based on mandatory contributions by ships trading globally, exceeding 5,000 gross tonnage, for each tonne of CO2 emitted. The money would go into an ‘IMO Climate Fund’ which, as well as closing the price gap between zero-carbon and conventional fuels, would be used to deploy the bunkering infrastructure required in ports throughout the world to supply fuels such as hydrogen and ammonia, ensuring consistency in the industry’s green transition for both developed and developing economies.  More details here.

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