Emissions trading plan unveiled

‘CAP and trade’ is the only way to guarantee an overall reduction in CO2 emissions from the shipping industry, according to a new industry discussion paper launched today.

The paper lays out a clear set of options for a viable system that could be applied to all vessels of all flags and monitored through the International Maritime Organization.

Its supporters argue that a global emissions trading system for shipping would force operators to pay more attention to efficient voyage-planning and management of their fleets, as well as investment in modern tonnage, because lower emissions would be financially rewarded.

It would also promote change by supporting innovation and technological development.

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