International Chamber of Shipping proposes carbon charge to subsidize emissions cuts
27 Oct 2022
In a departure from the R&D-only framework of its previous carbon charge plan, the International Chamber of Shipping is back with a revised proposal for an IMO "fund-and-reward" program that would charge a fee on carbon and pay shipowners who reduce emissions.
The payment for shipowners would be based on CO2 emissions prevented, and it would be funded via a "mandatory flat rate contribution" from ships per tonne of CO2 emitted. ICS hopes that the system can be set up by 2024, assuming agreement at MEPC. The objective is to change the incentive structure enough that five percent of the global fleet's energy will come from alternative fuels by 2030.
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