International shipping is a major and rapidly growing source of greenhouse gas emissions. It’s responsible for 3 percent of global emissions—twice that of Australia. Since it’s an international sector, its pollution is not attributed to any country and does not fall under international agreements like the Kyoto Protocol. However, this presents an opportunity to both reduce global emissions and raise critical revenue for developing countries to prepare for climate impacts. Recent reports published for the G20 from Bill Gates, the World Bank and IMF support raising critical revenue for developing countries through shipping. These reports substantiate WWF and Oxfam’s recent proposal, offering a path forward on how to incorporate this industry into a global solution for addressing climate change.
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