News / Proposal for IMO-controlled shipping decarbonisation fund gains traction

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Some 47 governments and industry groups are lobbying the International Maritime Organization (IMO) to implement an emissions pricing mechanism for greenhouse gases (GHG) to raise a fund to decarbonise shipping.

The proposal is just one of many to be mulled by the IMO at the February meeting of its GHGs working group (ISWG-GHG).

The market-based measure would aim to reduce the price gap between fossil and zero-emission fuels in a way that is not necessarily supported by the EU’s emissions trading system ...