View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
September 30, 2009

Shipping Bodies Call for Cap and Trade Scheme

A group of shipping associations from around the world have called for a ‘cap-and-trade’ system to reduce shipping CO2 emissions in a recent report. The report - A Global Cap-and-Trade System to Reduce Carbon Emissions from International Shipping, prepared by the shipping associ

By cms admin

A group of shipping associations from around the world have called for a ‘cap-and-trade’ system to reduce shipping CO2 emissions in a recent report.

The report – A Global Cap-and-Trade System to Reduce Carbon Emissions from International Shipping, prepared by the shipping associations of the UK, Australia, Belgium, Sweden and Norway – claims that a ‘cap-and-trade’ system will be the only way to guarantee an overall reduction in CO2 emissions from shipping.

The report says firms that emit CO2 should either buy or be provided with carbon allowances during the compliance period to cover emissions.

The mechanism will enable firms to review and manage their fleets more effectively while lowering emissions and encouraging innovation and technology, according to the report.

The associations are working with their respective governments to highlight the benefits of such a system ahead of the UN-led Copenhagen climate change conference where global leaders will work on a new agreement to replace the Kyoto Protocol to reduce greenhouse emissions.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology