Small island states want part of shipping's new CO2 fund

The Solomon Islands and Tonga want to ensure that small island states can share in a future shipping fund meant to raise billions of US dollars in order to develop the fuel of the future. This could lead to political deadlock, one source tells ShippingWatch.


Small island states now place demands on a proposed new research and development fund meant to ensure billions of US dollars to find the carbon-neutral fuels of the future.

The industry has high hopes for the fund, which was thought up by major shipping organizations that have for years been working toward a collaboration on the idea. The proposal is to be debated in London at the end of this month, when the IMO's Marine Environment Protection Committee (MEPC) assembles.

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