World News
Study: Market-based Emissions Rules Need Not Hurt Poor Countries
Market-based measures to reduce shipping and aviation emissions need not hurt the world's poorest countries, according to a study released today by Climate Strategies, University of Cambridge, Cambridge Econometrics, CE Delft and Transport Analysis and Knowledge Systems (TAKS).
The study finds the measures, which include emission trading systems and carbon taxes, can effectively reduce pollution while resulting in an average drop of less than 0.01 percent in GDP.
Nations such as small island states that are most dependent on tourism and trade would see the greatest economic impact, although they are also the countries most vulnerable to the effects of climate change, which emission rules seek to reduce.
The study suggests measures such as the exemption of certain routes, rebates, infrastructure investments, and support for the development of more efficient ships and aircraft to minimize economic effects.
Researchers assessed impacts of market-based measures on 10 countries and globally and considered the best tools to reduce those impacts.
New European Union (EU) plans to require monitoring and reporting on emissions have been criticised by some environmental groups that argue new laws should include market-based methods to reduce pollution.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
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