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IMF: Shipping should pay CO2 tax

In spite of the fact that shipping and aviation were not included in the climate accord in Paris in December, the discussion is far from over. Most recently, the International Monetary Fund (IMF) has called for a tax on the industries' emissions of CO2, writes Splash 24/7.

Photo: IMO

Shipping and aviation were left out of the global climate agreement in Paris in December, but the pressure remains for the two industries to contribute. This time from the International Monetary Fund (IMF), which according to Splash 24/7 is calling for an emissions tax on CO2 from shipping and aviation.

According to calculations from IMF, a taxation of the shipping industry could lead to no less than USD 25 billion. Money which could help the world's developing countries handle climate changes. In an internal report, IMF admits that it is challenging to implement taxes, writes Splash 24/7. International coordination, which is especially important in the shipping business, as well as legal issues concerning bilateral agreements to lower the taxes on fuel for aviation are highlighted as among the challenges which need to be solved.

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