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Global shipping industry to accept carbon pricing?

PARIS: December 01, 2015. Government leaders from France, Chile, Ethiopia, Germany, Mexico and Canada plus the heads of the World Bank and IMF, have called on companies and countries to put a price on carbon.

President François Hollande of France said his country had already moved in this direction with a price of €22 per tonne next year and a projected €100 by 2030. "Very quickly, a company consuming less CO2 should gain a decisive competitive advantage," he said.

ship recyclingAhead of the Paris climate talks, more than 90 developed and developing countries, including the European Union, announced plans to use international, regional, or domestic carbon pricing schemes to provide an incentive for businesses and investors to reduce their exposure to carbon, while accelerating investments in clean energy, clean transport and clean technologies.

Earlier, the Sustainable Shipping Initiative (SSI) had called on the International Maritime Organisation (IMO) "to act urgently in establishing the timely and progressive frameworks required that will deliver a carbon strategy which enables shipping to confidently and effectively play its part in achieving the UN Framework Convention on Climate Change (UNFCCC) global CO2 reduction targets".

The SSI said current IMO goals would not meet the UNFCCC target according to research by University College, London.

Alastair Fischbacher, CEO of the SSI said: "The challenge faced by the industry on CO2 is clear. It would be unacceptable for shipping to increase its share of global emissions and not play its part in the global reduction. Importantly, the longer the delay in implementing reductions, the further behind we fall and the harder it will become. It is crucial that there are progressive targets and timeframes set now for the industry to work towards, where it contributes fully to reducing global CO2 emissions".

The SSI members, who include ABN AMRO, AkzoNobel, American Bureau of Shipping, Bunge, Cargill, Carnival Corporation, China Navigation Company, Gearbulk, IMC, Lloyd's Register, Maersk Line, Namura Shipbuilding, Unilever, U-Ming Marine Transport Corporation and Wärtsilä, want the global shipping industry to recognize climate change as a business risk and act accordingly: "It is not commercially, environmentally or socially sustainable for the industry to continue on a business as usual carbon emissions pathway," they declared.

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