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Shipping organizations join forces on billion-dollar CO2 reduction fund

Several shipping organizations now propose a carbon fee on fuel. Over the next ten years, this would lay the foundation for collecting USD 5 billion earmarked for research and development on measures to lower the industry's carbon footprint.

Photo: PR/MSC

A number of shipping organizations now band together, proposing a CO2 surcharge on fuel meant to develop into a billion-dollar fund that aims to lower the industry's carbon footprint.

Among others, Bimco, the International Chamber of Shipping, Intertanko and the World Shipping Council are behind the proposal.

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