The fight against the shipping industry’s CO2 emissions might become a fight for the many billions of US dollars that could end up in the now two funds in play, and which will gather the enormous sums that emissions are likely going to cost in the years to come.
With the latest changes to the European Commission’s proposal, which would include shipping in its Emissions Trading System (ETS), another fund is now on the drawing board in the form of the so-called Ocean Fund. The European Parliament’s so-called rapporteur in the climate committee, German national Peter Liese, holds that a fund should be established to gather the many billions that carbon quotas are going to bring in.
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