Energy News
TRADE WARS
Shipping emissions tax still stuck in port
Shipping emissions tax still stuck in port
by AFP Staff Writers
Paris (AFP) June 23, 2023

Efforts by France to build a consensus for a global carbon tax on the shipping industry failed to produce significant results at a summit in Paris on Friday.

French President Emmanuel Macron put the item on the agenda of the two-day Summit for a New Global Financing Pact which brought together around 40 heads of state and government.

The shipping industry transports around 90 percent of traded goods worldwide and accounts for around three percent of global carbon emissions.

The Marshall Islands and Solomon Islands have been pushing for a $100-per-tonne tax on emissions which would raise approximately $60-80 billion (55-73 billion euros) of tax receipts per year, according to the World Bank.

At a closing press conference, Macron said that backing from China, the United States and other European nations was still needed in order to bring the idea to fruition.

"We are in favour of taxing shipping, it's a sector that isn't taxed," he told reporters. "To make it work, you need a group of countries that follow us.

"If China, the United States and other key European countries which host major companies, if they don't follow then it won't have any effect."

He cited France's decision to put in place so-called "green taxes" on airline tickets and some financial transactions in the past, saying other countries had not followed suit, putting the country at a disadvantage.

"We can't continue to do harm to ourselves on our own," he said.

US Treasury Secretary Janet Yellen told the same press conference that "it's something that the US will look at".

"We are very focused on the need to raise substantial additional resources to address climate change, poverty reduction and other global challenges," she added.

A Treasury official had previously described the proposal as "in its very early days."

The International Maritime Organization (IMO), a United Nations agency, is set to host a summit in two weeks' time where the carbon tax is expected to be discussed.

German Chancellor Olaf Scholz also lent only lukewarm support to the idea, which has been pushed by two Pacific nations, the Marshall Islands and Solomon Islands, over the last decade.

"It's an interesting proposal but we need to work on it more," he told reporters. "There are some countries that are worried because they can only be reached by boat."

Even if a shipping tax is approved, there remain disagreements over how the money raised would be spent.

The industry would like it to be re-invested in technology to reduce shipping emissions, while the original backers of the idea want the funds used to finance climate change adaptation efforts in poor countries.

A total of 18 countries are currently in favour of the idea, according to a French diplomatic source.

Related Links
Global Trade News

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TRADE WARS
W.House still hopes for improved China ties despite 'dictators' jab
Washington (AFP) June 21, 2023
The White House said Wednesday it had "every expectation" that the top US diplomat's recent trip to Beijing will lead to better relations, even after Joe Biden compared China's leader to embarrassed "dictators." US State Secretary Antony Blinken "made some progress" during a long-awaited trip to China, a senior administration official said Wednesday. "We have every expectation of building on that progress," the official said. Blinken's visit, which concluded Monday, was meant to re-establish ... read more

TRADE WARS
Why Saudi Arabia's "The Line" isn't a revolution in urban living

The global search for cooling: an energy-demanding loop

Big ideas, small steps at climate finance summit

UK criticised for slow implementation of climate commitments

TRADE WARS
Dual-use rechargeable battery

Towards efficient lithium-air batteries with solution plasma-based synthesis of perovskite hydroxide catalysts

Nobel-winning lithium battery inventor John Goodenough dies at 100

Ford-backed electric battery venture approved for $9.2bn US loan

TRADE WARS
New transmission line to carry wind energy electricity from Wyoming to Nevada

Brazil faces dilemma: endangered macaw vs. wind farm

Spire to provide TrueOcean with weather forecasts for offshore wind farm development

Sweden greenlights two offshore windpower farms

TRADE WARS
NSU perovskite solar cells set new record for power conversion efficiency

Researchers develop a new source of quantum light

Climate goals need clean energy surge in Global South: IEA

Launch of next generation photovoltaics lab

TRADE WARS
Belgium, French firm seal deal extending nuclear reactors

Ukraine warns against 'panic' after alleged nuclear threat

Framatome selected by US nuclear power plant to provide incore instrumentation

UN nuclear chief says situation 'serious' at Ukraine plant

TRADE WARS
New technology will let farmers produce their own fertilizer and e-fuels

Clean, sustainable fuels made 'from thin air' and plastic waste

In Iowa, Asa Hutchinson touts measured approach to green energy transition

Carbon mitigation payments can make bioenergy crops more appealing for farmers

TRADE WARS
OPEC: Oil demand to reach 110 million barrels by 2045

Gulf oil states on a Pacific charm offensive

Environmentalists sue Norway over new oil projects

Indigenous defenders of oil in the Amazon

TRADE WARS
Climate protesters aim to bring London to a halt

How climate change fuels extreme heat

Debt in the poorest nations: the problem in a nutshell

Verdict awaited in historic US climate trial

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.