The recently submitted proposal to IMO from RMI and Solomon Islands for a GHG levy starting at US$100/tonne has now made the submission by a coalition of shipping industry groups to set up a US$5b R&D fund look woefully inadequate to meet the needs of the existing decarbonization agenda. This $5b R&D resourcing proposal has received the support of major shipping nations, including Japan, Liberia, Greece and Singapore, but it is increasingly clear this R&D fund will not appropriately resource the maritime transition at global scale.
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