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Shipping now faces the highest price on carbon for any global industry

·6 min read
Shipping now faces the highest price on carbon for any global industry

The world has never had a global price on carbon. A coordinated international carbon price has been stymied by bureaucracy, jurisdictional disputes, industry resistance, and worries over international competitiveness. One of the most ambitious proposals has come from one of the world’s smaller countries: the Republic of the Marshall Islands (RMI).