Eco Friendly posted by

Shipping Fuel Tax – new fund planned to create a sustainable industry

A new fund is in the works to help make shipping carbon neutral. The group behind it is planning on raising $5bn for it by taxing every ton of fuel that ships use, which as it turns out, is a pretty substantial amount. The hope is that this will move the industry towards a sustainable future.

Shipping is the source for about 3% of emissions which doesn’t seem like a whole lot but 3% is 3% and that’s more than zero. The hope is that the tax will not only supply the funds for development of new shipping technology and fuels that will allow it to become a sustainable industry.

Although everyone is positive about the move, experts warn that it could be too little too late. There are currently a few solutions that are being batted around but as of now, not enough research has been done to really pin down what would work best for the industry and allow the goals they set out to be met.

Comments are closed.

comments powered by Disqus

Side Advert

Write For Us


Managing Editor:
Nigel Powell

Associate Editor:
Caitlyn Muncy
Associate Editor:
Dan Ferris
Ecological Editor:
Debra Atlas
Technology Editor:
Fritz Effenberger
Asian Editor:
Hu Ping
Reviews Editor:
Kevin Evans

FB Like Box