Ports and Shipping - Carbon taxes in the shipping industry-assessing Japan's proposal.

Byline: S. KAMAL HAYDER KAZMI

There are growing calls for a carbon tax on shipping emissions. Jim Loftis, Ciara Ros and Tatiana Freeman of Vinson and Elkins look at the recent proposal from Japan for a global carbon tax, assess it in the context of the existing approaches in other jurisdictions and industries, and consider how those involved in the maritime industry need to prepare. The shipping industry currently accounts for 3 percent of global emissions, and according to certain estimates, if unchecked, shipping could account for as much as 20 percent of global...