ITF calls for carbon pricing for shipping

The International Transport Forum (ITF), part of Paris-based OECD, has called for the swift implementation of carbon pricing for shipping to speed up the sector’s shift towards zero-emission ships. The price gap between conventional and zero-emission ship fuels hinders the adoption of known and sometimes available technological solutions, the ITF has argued in a new

Subsidies for fossil fuels increased in 2021

According to a new analysis by the Organization for Economic Co-operation and Development (OECD) and the International Energy Agency (IEA), the annual support for fossil fuels doubled in 2021 to nearly $700 billion, slowing progress towards global community climate goals. Economic recovery contributed to the increase in subsidies and it will rise even more in

Cutting oil demand can hurt Russia: IEA

Responding to Russia’s invasion of Ukraine, the International Energy Agency (IEA) unveiled a 10-point plan recently to slash oil demand in developed economies by about 2.7 million barrels a day within four months. Reducing demand will make it a lot easier to impose tough sanctions on Russian exports, but the proposals also serve the longer-term