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July 6, 2023

Editor’s note: shipping emissions and global trade

Container ship at sea
A draft document on how the shipping industry should cut emissions is expected imminently (Photo: A_medvedkov/Envato)

The latest edition of our Sustainable Views newsletter.

Dear Reader,

We have a rich menu today. As the UN maritime meeting continues in London, Claudia speaks to official delegations and observers to understand how the public opposition to a global emissions tax on shipping is translating behind closed-door negotiations.

Brazil, for example, has been a vocal opponent to the measure. One of its representatives described the levy as a “tax on distance” that would disproportionately hurt developing countries whose trading partners are further away. Including shipping in a regional system like the EU’s emissions trading scheme would also be too complex, according to the Latin American official.

However, some agreement may still be within reach, particularly on the technical side. A draft document on how the industry should cut emissions is expected for today, an insider told Claudia. More on this and what might come next in her piece. And we’ll bring you a summary of what was (and wasn’t) decided after the meeting’s close, next week.

Meanwhile, in Brussels, Philippa has the latest on the European Commission’s proposals for new measures to reduce textile and food waste, a soil-monitoring law and improved farming techniques. All would have consequences for businesses. 

In the textile industry case, producers would be responsible for the full life cycle of products through a mandatory and harmonised extended producer responsibility scheme across the EU. You will find all the key details in Philippa’s piece.

Lastly, we look at a new report by the Green Finance Institute and the University of Oxford warning that “policy gaps and hubris” are hindering climate finance in the UK.

Until tomorrow,

Silvia

Silvia Pavoni is the editor of Sustainable Views

 

A service from the Financial Times