Shipping groups back trading scheme

A group of shipping companies, members of the national shipowners' associations of five important shipping nations (Australia, Belgium, Norway, Sweden and the United Kingdom) unveiled their first serious plan for a global trading carbon trading system for the industry on the 23 September 2009, but failed to set a long-term target for cutting emissions.

The national shipowner associations of Australia, Belgium,
Norway, Sweden and the United Kingdom firmly believe that
the best way to achieve a real and lasting reduction in CO2
emissions from shipping – over and beyond efficiencies in
ship design and operation – is through a global and open
emissions trading system. That will provide strong incentives for the industry to reduce emissions through ever increasing efficiency and innovation, as well as funding for climate change adaptation and mitigation measures.

In March 2010 it was announced that the International Maritime Organisation (IMO) agreed to establish an expert group to prepare a feasibility study on market-based instruments to cut greenhouse gas emissions from ships.

EurActiv, 30.3.10: New UN expert group to study ship emissions http://www.euractiv.com/climate-environment/new-un-expert-group-study-ship-e-news-395707

UK: Chamber of Shipping: A global cap-and-trade system to reduce carbon emissions from international shipping, 2009 http://www.british-shipping.org/uploaded_files/cap-and-trade.pdf

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