Those registered virtually to attend COP29 can watch the livestream on the COP29 virtual platform
Visit virtual platformThe maritime sector is undertaxed and has so far avoided carbon pricing. This event will discuss regional and global policy initiatives to incentivise shipping decarbonisation and how they can be used as a source of climate finance in a manner that is just and fair for vulnerable countries.
This side event will be co-organised by Ferdi (lead applicant) and Transport & Environment (co-applicant), in partnership with the Paris Pact for People and the Planet (4P) Secretariat.
The maritime sector remains one of the few industries that has largely evaded meaningful climate taxation, despite its significant carbon footprint. As efforts to meet climate goals intensify, the decarbonisation of the shipping industry is becoming increasingly urgent.
Since the early 2020s, discussions on the introduction of a carbon tax on shipping have been gathering momentum. Following on from the Sharm el-Sheikh implementation plan (COP27) and the Bridgetown agenda, the Summit for a New Global Financing Pact in Paris in June 2023 and the preparation of the 4th International Conference on Financing for Development in Seville in 2025 has put innovative sources of financing back at the heart of the negotiations.
The panel will examine a range of regional and global policy initiatives aimed at reducing the carbon emissions of the maritime sector, recognizing that a multi-faceted approach is needed to address this global challenge. Among the key strategies to be discussed is the implementation of a shipping tax, which holds significant potential as a dual-purpose tool.
Run of play
Welcome - setting the scene (Vianney Dequiedt from Ferdi and the Financial Secretary to the Treasury, Lord Spencer Livermore)
Panel:
Closing words by Ferdi