Regulation

Shipowners propose CO2 levy and billion-dollar fund for shipping's green transformation

A fund collecting USD 10bn a year is enough to reduce the price difference between fossil and sustainable fuels in shipping, according to international shipowner organization.
The IMO should administer a billion-dollar fund for the green energy transition of shipping, the ICS proposes. Money should come from a carbon levy. | Photo: Pr / Imo
The IMO should administer a billion-dollar fund for the green energy transition of shipping, the ICS proposes. Money should come from a carbon levy. | Photo: Pr / Imo
by JENS THOMSEN

A carbon levy on shipping activities could generate USD 10bn every year for a global fund that will use the income to support the industry’s transition to sustainable fuels, suggests the International Chamber of Shipping (ICS) in a formal proposal to the UN’s International Maritime Organization (IMO).

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