Tag: carbon tax

World’s First Global, Legally Binding Carbon Tax to Slash Emissions, Safeguard Ocean

Stuart Mitchell

The world’s first-ever global, legally binding carbon price—for any industry—is on the table for adoption at the upcoming International Maritime Organization (IMO) meeting from October 14-17 in London. If the IMO Net-Zero Framework is adopted, all large ships operating globally, including cruise ships, would be required to slash emissions by 17% by 2028—with increasing emission reduction targets thereafter—or pay a fee. Currently, the global shipping industry runs on some of the dirtiest fossil fuels and accounts for 3% of global carbon emissions—polluting the ocean and imperiling the health of people in…

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New UK levy to level carbon pricing

Stuart Mitchell

The UK is to implement a new import carbon pricing mechanism by 2027 to support the decarbonisation drive. imports of iron, steel, aluminium, ceramics and cement from overseas will face a comparable carbon price to those goods produced in the UK reduces the risk of ‘carbon leakage’, avoiding emissions being displaced to other countries because they have a lower or no carbon price Goods imported into the UK from countries with a lower or no carbon price will have to pay a levy by 2027, ensuring products from overseas face…

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Klarna announces multi-million contribution from internal carbon tax for game-changing climate impact solutions; shares progress on emissions reduction

Stuart Mitchell

Klarna, the global payments network and shopping destination, today announced that it will contribute a total of $2.35 million USD towards several climate initiatives as part of its ongoing commitment to tackle the climate crisis. This is the third round of contributions from Klarna’s internal carbon tax, totaling $5.07 million since 2021, designed to create maximum long-term climate impact. Instead of purchasing carbon credits to make climate neutrality claims, Klarna contributes funds from its internal carbon tax in initiatives tackling climate change to drive greater impact.  “Klarna is committed to…

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