The shipping industry’s biggest players are shrugging off Trump administration opposition to a global carbon price and are forging ahead with billions of dollars in emissions-reducing investments, according to company officials and an analysis of data. Europe, Brazil and a host of other nations are pushing the sector, which is responsible for nearly 3% of the world’s greenhouse gas (GHG) emissions, to go green. In October, the US and Saudi Arabia, the world’s two largest oil producers, had successfully spearheaded efforts to postpone by one year a decision on the International Maritime Organisation’s (IMO’s) proposal of a $380 per metric ton levy. Some analysts and industry observers initially warned that the absence of such a global framework added complexity to companies’ planning and could cause some to pause their green investments, as per a report.
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