Shipping accounts for almost 3% of greenhouse gas emissions, according to the International Maritime Organization. The French presidency said 23 nations, which were not identified in the official statement, backed the initiative.
It was unclear which countries at the summit supported the proposal, which could be an important step toward getting a heavily emitting industry to pitch in to the cost of fighting climate change. Treasury Secretary Janet Yellen, who attended the summit, called the tax “a very constructive suggestion" and said the U.S.
and several key European countries are not on board, then you would put a tax in place that would not have any impact,” he added. But the French president, who hosted the summit, suggested that China and the U.S were not supporting the idea. And there’s no reason why it’s not taxed,” Macron said. Some experts believe that a tax on shipping alone could raise $100 billion a year, and a strong endorsement of it in Paris would have provided Macron with a symbolic win. The money could be directed toward developing countries to help them deal with climate change. The idea of a global tax on the greenhouse gas emissions produced from international shipping has been gaining traction and could potentially be adopted at a July meeting of the International Maritime Organization, the United Nations agency regulating shipping. “We need to be clear that if we don’t change the institutions, the world will remain the same," Brazil’s President Luiz Inácio Lula da Silva said. The two-day gathering of world leaders and finance bosses ended without a major announcement, though organizers did release a promised “road map” aimed at fulfilling French President Emmanuel Macron's pledge to assess reforms of the international finance system over the next two years. PARIS (AP) - Participants at a Paris summit stopped short Friday of a deal to create a tax on greenhouse gas emissions produced from international shipping, leaving climate NGOs and activists lamenting the lack of ambitious responses to fight climate change and the world's inequalities brought forward at the meeting.
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