Global commodity trader Trafigura Group renewed its call for a tax on carbon fuel oils used for shipping in an effort to speed decarbonization of the maritime industry.
The trader, which previously proposed a carbon levy of $250 – $300 per tonne, called on the UN’s International Maritime Organization, a shipping regulator, to revise its GHG policy and implement a carbon levy in a review of the organization’s carbon policy this year.
“By agreeing and implementing ambitious science-based decarbonization targets in its revised GHG Strategy, the IMO can accelerate the development of low- and zero-emission fuels and attract the investment needed to overhaul the infrastructure of the global shipping industry and retrofit or build a fleet of ships,” Trafigura said in the white paper.
Trafigura calls on the IMO to introduce an agreed-upon carbon price by 2025.
