ICS proposes fund and reward scheme to incentivise alternative fuel use

The International Chamber of Shipping (ICS) is proposing a fund and reward scheme to incentivise the use of alternative low and zero-emission fuels.

The proposal involves the establishment of an international fund from a levy on CO₂ emissions. The fund will be used to subsidise the price gap between alternative and conventional fuels — and also help pay for the development of the production and supply of zero and low-emission fuels.