International shipping and climate change
It is most important to set any discussion about the impact of international shipping on climate change in the context of the global transport needs of world trade. The cargo capacity of the global maritime fl eet carries around 90 per cent of the world’s raw materials and fi nished products. It is a remarkable fact that, in fulfi lling that vital role, the global fl eet is responsible for only 2.7 per cent of the global carbon dioxide (CO 2 ) emission inventory; that is a measure of the current energy effi ciency of modern ships. At the same time, this is not to say that the fl eet cannot become even more effi cient.