Climate finance: Shipping tax not sunk

A proposal to tax global shipping was dropped at the last minute at COP17, but industry watchers say it is still very likely to become the Global Climate Fund's first source of financing.

LONDON (Thomson Reuters Point Carbon) - The international maritime sector remains firmly in the UN's crosshairs when it comes to finding cash to fill a global fund to help poor countries tackle climate change.

UN climate talks last week agreed the design of a Global Climate Fund to channel up to $100 billion a year by 2020 to poorer nations, but failed to make headway on where the money will come from to fill it.

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