Why shipping’s carbon targets will ultimately come down to climate finance
The question of whether decarbonisation targets are set for 2050 or ‘mid-century’ is ultimately going to be an indicator of China’s power to lobby states inside the IMO on wider issues of climate finance
The IMO’s pivotal revision of its greenhouse gas strategy this week will deliver a headline target, albeit one watered down by language and non-committal interim targets, but the real battle over the prospect of a carbon levy has seen China step up its lobbying, as it defends its negotiating position over climate finance outside of shipping
