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Shipping Regulator Explores Levy to Help Shrink Industry’s Carbon Footprint

Shipping Regulator Explores Levy to Help Shrink Industry’s Carbon Footprint

LONDON—The International Maritime Organization is mulling a new tax on shipping to help build a global network of alternative fuel stations for vessels and subsidize developing countries facing higher export costs.

The proposal calls for charging vessel operators $100 for each metric ton of carbon dioxide emitted per trip. The shipping regulator said the levy could raise around $1 trillion over the next three decades, according to a World Bank study submitted to the IMO in September.

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