Countdown to MEPC 80: France to push for carbon levy – FT

French President Emmanuel Macron is pushing for the IMO to adopt a carbon pricing mechanism at the 80th Marine Environment Protection Committee (MEPC) meeting next month.

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Several officials have told the Financial Times (FT) that Macron plans to collaborate with other nations and advocate for a carbon levy for the shipping sector. France already has support from Japan, Kenya, Panama, Mexico, the Solomon Islands and Marshall Islands, according to the FT.

It is likely that the coalition's finer details will be revealed at a two-day summit in Barbados from 22 June.

A carbon levy is one of the economic instruments the shipping sector can use to combat climate change, a French diplomat told FT, and said the details of the levy should be determined by the MEPC.

France is one of the EU nations that has advocated for mid-term market-based measures like carbon pricing and greenhouse gas (GHG) fuel standards in its proposal to the IMO. The EU has said a mechanism like this will fast-track the adoption of low- and zero-emission marine fuels.

The US and a growing list of other nations have also voted in favour of carbon pricing, as have stakeholders in the shipping industry.

Moreover, the World Bank recently released a roadmap outlining how the IMO could use funds generated from a carbon levy if the mechanism is implemented.

By Konica Bhatt

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