Oxfam, World Wide Fund seek to impose United Nations carbon tax on shipping
The World Wide Fund for Nature and Oxfam are pressing for a United National carbon tax on shipping at a time when questions mount on the extent of the risk of CO2 emissions pose against the cost of suppressing them, Shippingazette reported.
The two groups hope to put their proposal on the agenda at the 17th UN Framework Convention on Climate Change in Durban in November and December, reported London's International Freighting Weekly.
Governments made $100 billion worth of commitments to the GCF at COP16 in Cancun last December, without specifying where they would raise the money.
The two groups have published a joint report that says a "carbon price" of US$25 per tonne would increase bunker costs 10 per cent and cost the shipping industry 25 billion a year, or 0.2 per cent of the total value of global trade, according to the groups' estimates.
The charities said shipping would be an easy source of revenue for the United Nations. "This is likely to have a marginal impact on global patterns of trade, not least when seen in the context of much larger changes in bunker fuel prices and freight rates over the past two decades," said the green lobbies' report.
Lloyd's List reported that proceeds of the tax would be divided between the UN's Green Climate Fund (GCF) and developing countries, to compensate them for the increased costs of imports, based on their share of global imports by sea.
The two groups hope to put their proposal on the agenda at the 17th UN Framework Convention on Climate Change in Durban in November and December, reported London's International Freighting Weekly.
Governments made $100 billion worth of commitments to the GCF at COP16 in Cancun last December, without specifying where they would raise the money.
The two groups have published a joint report that says a "carbon price" of US$25 per tonne would increase bunker costs 10 per cent and cost the shipping industry 25 billion a year, or 0.2 per cent of the total value of global trade, according to the groups' estimates.
The charities said shipping would be an easy source of revenue for the United Nations. "This is likely to have a marginal impact on global patterns of trade, not least when seen in the context of much larger changes in bunker fuel prices and freight rates over the past two decades," said the green lobbies' report.
Lloyd's List reported that proceeds of the tax would be divided between the UN's Green Climate Fund (GCF) and developing countries, to compensate them for the increased costs of imports, based on their share of global imports by sea.