Call for a global shipping fuel tax
A report by Oxfam and WWF shows how it is possible to tackle the huge and growing greenhouse gas emissions from ships and raise billions of dollars to help developing countries tackle climate change, without unfairly hitting developing countries. It argues that a deal to apply a carbon price to international shipping should be at the heart of the agreement at the UN climate change conference in Durban, South Africa, later this year. It would also offer a solution to the deadlock on shipping emissions that has lasted more than a decade.
According to the proposal, applying a carbon price of US$25 per tonne to shipping fuel would help cut emissions while generating US$25 billion per year by 2020. The finance would be used both to compensate developing countries for marginally higher import costs that could result from the carbon price, and to provide more than US$10 billion per year to the Green Climate Fund (GCF).
Source: WWF/Oxfam press release, 8 September 2011