Shipping industry proposes ‘moonshot’ fossil fuel levy

Proposed levy, backed by nine governments, would raise funds for developing zero-carbon ships

Shipping industry representatives, backed by several countries, have submitted a proposal to the UN to charge a climate-related levy on fossil fuels used by international shipping for the first time.

However, climate campaigners are concerned that the levy is too small, and will distract from more effective ways of reducing carbon dioxide from shipping, which is a growing problem.