Paris Climate Talks

Climate talks are set to take place at a summit in Paris from November 30^th to December 11^th. A carbon tax meant to cut down green house gas emissions will likely be one outcome of the talks. It's expected that these taxes will be based on either fuel use by diesel-driven ships, or a market based levy. Either way, this expense will add to rising costs in the industry. These added costs would likely get passed on to the consumer. A study by the International Maritime Organization (IMO) predicted that CO2 emissions caused by shipping could rise by 50% by the year 2050 if action isn’t taken. Without CO2 emission cuts by the shipping industry, it will be nearly impossible to remain under the 2 degree global warming limit. This goal aims to limit the average temperature rise to no more than 2 degrees Celsius (3.6 degrees Fahrenheit) above the average temperature during pre-industrial times. The summit talks will attempt to find the best possible solution to these convoluted issues. Click here for more information.