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AP National Business

Industry group backs global carbon price for large ships

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Published 4:04 AM

By FRANK JORDANS
Associated Press

BERLIN (AP) — A major maritime industry association has backed plans for a global surcharge on carbon emissions from shipping to help fund the sector’s shift toward climate-friendly fuels. The International Chamber of Shipping said Monday that all vessels trading globally above a certain size should pay a set amount per metric ton of carbon dioxide they emit. The group represents over 80% of the world merchant fleet. It didn’t specify what carbon price it would support. The shipping industry is estimated to account for nearly 3% of the greenhouse gas emissions that are driving global warming and projected to rise significantly in the coming decades.

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