Top

Shipping Industry Calls for Exemption from Carbon Market Reform

February 16, 2017

Category:

The global shipping industry has urged the European Union to drop the sector’s inclusion in proposals adopted Feb. 15 to reform the bloc’s carbon market, saying it risks distorting trade and international efforts to cut the sector’s emissions.

About 90% of world trade is transported by sea, with shipping accounting for an estimated 2.2% of global carbon dioxide, or CO2, emissions and forecast to rise dramatically unless action is taken.

Read More on Transport Topics