Trafigura Calls on Shipping Watchdog to Up the Pace on CO2 Curbs
- Trading giant saw no significant progress at recent IMO talks
- Company seeks a global carbon levy imposed on shipping by 2023
Photographer: David Gray/Bloomberg
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Trafigura Group said the shipping industry’s regulator needs to act with ‘lightning speed’ to cut carbon emissions from an industry that spews more C02 into the atmosphere each year than France and the U.K. combined.
The commodities trading giant wants the International Maritime Organization to quickly progress what are known as market-based measures -- such as a global tax on CO2 -- to decarbonize shipping. At talks which concluded last week, the UN body approved a ‘work plan’ with a view to developing such rules going forward.