News / Shipping unveils 10-year $5bn research and development plan to cut GHGs

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A coalition of global shipping associations and lobby groups have submitted a joint proposal to the International Maritime Organization (IMO) for a 10-year research & development (R&D) project to develop new technologies to reduce the industry’s greenhouse gas emissions.

The promise of a combined $5bn over the next decade into the programme would be levied via a $2 per tonne global tax on fuel, according to a joint submission delivered to the IMO yesterday.

“The co-sponsors propose that core funding would be ...