Opinion / #carbon tax
While shipping is essential to the global economy, so is reducing the associated pollution. Requiring shipping companies to pay for their vessels’ greenhouse-gas emissions would go a long way toward advancing this objective, while generating much-needed revenues for climate-vulnerable developing countries.
House Bill 7705, the low carbon economy bill, could help the climate-vulnerable nation seize the economic opportunities that come with decarbonisation.
Non-populist policies pose risks for politicians. Prabowo Subianto, who has claimed victory in the Indonesian presidential elections, is looking at creating five million green jobs, but stops short of pledging to phase out fossil fuels subsidies.
Investors now need to be fully aware of the environmental and social implications of geopolitics – or else remain oblivious to the risks and opportunities. ESG must become ESGG.
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