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Bank to suggest CO2 levy on jet, shipping fuel
Posted By Matt Ryan On June 5, 2011 @ 2:33 pm In Economic Crisis | Comments Disabled
June 5, 2011
BONN, Germany, June 5 (Reuters) – The World Bank will suggest a global levy on jet and shipping fuel in recommendations to G20 governments later this year on raising climate finance, a senior official said on Sunday.
Developed countries have already written off chances of agreement on a new binding deal at a U.N. conference in Durban this year, placing a new focus on piecemeal efforts including fund-raising.
Binding targets under the Kyoto Protocol cap the greenhouse gas emissions of nearly 40 industrialised countries but expire in 2012 and now look unlikely to be extended in time.
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