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    23 September 2009 - Shipping bodies back cap and trade scheme to cut emissions

Industry bodies from five countries said shipping should be treated as a separate country and given its own cap and trade scheme to cut carbon emissions which are thought to amount to nearly 3% of the world's man-made greenhouse gases.

The proposal could cost the industry up to €6bn a year and it is hoped that it will lead to a global agreement to significantly cut carbon emissions from the world's fleet of 100,000 ships.

At present there are no specific targets or timetables and proposers admitted it may be hard to gain consensus among other countries.

The international aviation industry has already pledged to reduce carbon dioxide emissions by 50% by 2050 and make the industry's growth carbon-neutral by 2020.

Advocates believe some form of emissions trading system is the way to reduce carbon outputs. However any such system must avoid driving goods to other modes of transport, which would increase overall emissions and damage commercial shipping.

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