A Carbon Levy for International Maritime Fuels

Ian Parry, Dirk Heine, Kelley Kizzier and Tristan Smith

Review of Environmental Economics and Policy, 2022, vol. 16, issue 1, 25 - 41

Abstract: The International Maritime Organization has pledged to reduce carbon emissions from the shipping industry by at least 50 percent below 2008 levels by midcentury. The next step is to design a strategy for implementing this commitment. A carbon levy for international maritime fuel is a critical component of this strategy because it provides across-the-board incentives for near-term mitigation, the robust price signal that is ultimately needed for deploying zero-emission vessels (ZEVs), and near-term funding for R & D and infrastructure investment for ZEVs. This article discusses the rationale for an international maritime carbon levy, key design and implementation issues, and the environmental impacts of such a levy.

Date: 2022
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