FEATURE: Effects of Iran war may lead countries to galvanise behind greener shipping framework
Surging fuel prices driven by the Iran war have alerted companies and policymakers to the energy security benefits of greener alternatives, which could help galvanise momentum on a global framework for shipping emissions, according to experts.
Read MoreHormuz closure costing shipping €340 mln per day, sector must accelerate decarbonisation -report
The Hormuz Strait crisis is costing the maritime industry €340 million a day – highlighting the industry’s vulnerability to oil and gas price volatility, according to a new report.
Read MoreIndia launches carbon market portal
India on Saturday formally launched its long-awaited carbon market portal, taking a step in rolling out the country’s domestic carbon credit trading scheme.
Read MoreEXCLUSIVE: Indonesia first to pilot G20-backed carbon credit data model
The government of Indonesia will pilot a new global framework for standardising carbon credit data as part of efforts to strengthen transparency and interoperability in carbon markets, according to an announcement Friday.
Read MoreUK lawmakers back plan to extend ETS to shipping
The House of Lords voted on Thursday to approve the UK government’s plan to extend its Emissions Trading Scheme (ETS) to shipping later this year, with proponents saying it is an important step towards linking the British market with the EU’s.
Read MoreFEATURE: Global carbon price for shipping faces hammer blows from counter proposals
The adoption of a global carbon price for shipping is now in question, as some countries are proposing a new Net-Zero Framework (NZF) that would remove the financial levy and weaken incentives for clean fuels.
Read MoreShipping needs global carbon price but underlying green shift is happening -executives
Shipping executives reiterated calls for the adoption of a global climate framework at a conference in London, but said that decarbonisation is an underlying trend regardless.
Read MoreEU proposes using carbon market revenues to support shipping decarbonisation
The European Commission will use proceeds from the sale of 20 million EU Emissions Trading System (ETS) allowances under the Innovation Fund to finance maritime decarbonisation through 2030 and may consider creating a dedicated ETS mechanism for the sector, it announced Wednesday as part of a new maritime and ports strategy.
Read MoreOver 85 companies urge adoption of global carbon price for shipping
More than 85 companies including shipowners, ports, and fuel producers have signed a joint statement calling on member states of the International Maritime Organization (IMO) to adopt the Net-Zero Framework this year, which sets out a global carbon price for shipping.
Read MoreFerries responsible for more air pollution than cars in many European port cities
Ferries account for 15 to over 100 times more air pollution than all cars in major European port cities such as Barcelona, Dublin, and Naples, according to a new study, which views the sector as ripe for electrification.
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