Greener Shipping Can Help Fight Climate Change - Bloomberg
▻https://www.bloomberg.com/view/articles/2018-04-05/greener-shipping-can-help-fight-climate-change
When almost all the world’s governments agreed in Paris more than two years ago to address climate change, they sidestepped an important issue: carbon emissions from international shipping. Next week in London, they have a chance to put this right.
Shipping is by far the most energy-efficient mode of transport, and it moves some 80 percent of world trade by volume. However, the fuel it uses is hard on the environment and human health — and ships last a long time, so deploying cleaner fleets takes time.
Already, international shipping accounts for about as much carbon dioxide each year as Germany’s whole economy. On current trends, its share of the total will rise quickly. It could account for roughly 15 percent of the global carbon budget set by the Paris accord for 2050.
Next week, the International Maritime Organization is expected to announce a strategy for reducing these emissions. The plan is unlikely to be bold. Countries including Argentina, Brazil, India, Panama and Saudi Arabia are resisting carbon dioxide targets for shipping. Unsurprisingly, the industry itself is also opposed.