Working papers in Transport Economics
The financial implications of a levy & GHG Fund
Abstract: This paper reviews the financial capabilities of a levy on
carbon dioxide emissions from international shipping as proposed in the
International Maritime Organization (IMO) by Cyprus, Denmark, the Marshall
Islands and Nigeria. The conclusion is that a relatively high levy would be
required to create the resources needed for satisfying all four objectives
brought forward by the proponents and in addition provide compensation to
developing countries based on the principle of no net incidence. Choosing a
low and stable rate would force the decision maker to forsake the task of
offsetting any shipping emissions above a proposed (declining) cap, which
would make the scheme less environmentally effective.
Keywords: Shipping; climate change; IMO; market-based measures; (follow links to similar papers)
JEL-Codes: Q53; R48; (follow links to similar papers)
7 pages, November 16, 2011
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