The shipping industry is estimated to contribute 3.5% of anthropogenic CO2 emissions (a major global warming gas).
In the 10 years since The Kyoto Protocol delegated the development of a plan to reduce emissions from shipping to the International Maritime Organisation (IMO) little or no progress has been made in limiting its CO2 emissions. It is now thought that the shipping industry will be forced to join an emissions trading (ET) scheme in 2011 with legally enforced caps and the possibility to trade carbon credits. more