IMF Moots Shipping Carbon Tax

Following reports that a carbon levy could have generated around US$25 billion in 2014, the International Monetary Fund (IMF) has called for a tax to be put into place for the aviation and shipping industries, according to Climate Action Program.

The IMF said that a levy should be manageable; however, there are clear challenges for introducing a carbon tax.

PTI previously reported that the shipping industry was left off of the COP21 agenda, despite shipping accounting for around 3% of global emissions.

Leading shipping company Maersk Line recently expressed its concern at being left off of the bill and began to push to get the industry on the global agenda.

CMA CGM is also making efforts to lower emissions after it was announced that the world’s third-largest shipping company had reduced its emissions by 50%.

Shipping remains a heavy polluter and is under increasing pressure to more effectively balance supply chain needs with global emissions levels.