GHG Emissions from the International Goods Movement by Ships and the Adaptation Funding Distribution - Green Finance and Sustainability - page 280

Table 2. Top GHG emitters in international trade Table 3. Countries with highest CO 2 cost/import

weight rate

Country Annex I Total CO 2 (Mmt)

Japan Yes 7.886 CO 2 Reduction Cost/

weight (cents per ton) Country Annex I

South Korea No 7.437

Kiribati No 1.00

Hong Kong No 4.781

American Samoa No 0.19

China Mainland No 4.415

Tonga No 0.017

Mexico No 4.001

Benin No 0.015

Canada Yes 2.783

Grenada No 0.005

China Taiwan No 2.642

Bahamas No 2.104

United Kingdom Yes 2.094

international CO 2 mitigation is based on, either
the Common but Differentiated Responsibility
principle or All Ship Equal Principle, the interests
of small islands should be considered in particu-
lar.

Venezuela No 1.897

of total voyages, their emissions were more than
2% of total, showing the inefficiency of their ships
and longer distances to the destination.
Figure 1 investigates the CO 2 emission among
different country groups. In the following part of
this section, the emissions and costs among dif-
ferent countries are calculated to evaluate the
fairness of a universal CO 2 price for all ships.
Table 2 shows countries or territories with the
most CO 2 emissions from international trade to
the United States. Not surprisingly, all of them
are major trading countries or regions. The top
four countries or regions are from East Asia, re-
flecting the booming trade relationship between
East Asia and the United States and relatively
long distances for ships to travel from origin to
destination. Mexico and Canada, neighbors of
the United States, are the 5 th and 6 th on the list of
top emitters.
Using the emission data and trade data, Table
3 shows the five countries with the highest CO 2
cost per import weight.
Table 3 demonstrates that countries most af-
fected by CO 2 price are small islands countries,
which are also most vulnerable to global warming.
But if regulations aimed at reducing CO 2 are
promulgated, these countries will be harmed as
well, creating a dilemma for the international
community. Therefore, whichever program that

Table 4 illustrates the fund collections from
the CO 2 regulations divided by different country
groups. It indicates that if ships are required to
reduce CO 2 , the non-Annex I countries need to pay
up to $16 billion, Annex I countries would need
to pay up to $7 billion, and transition economies
would need to pay up to $0.5 billion. Although
ships from economies in transition only account
for a small number of ships, transition economies
need to pay the most in terms of charge per voyage
in that their ships are the least efficient among all
country groups.
The total reduction cost is around $23 billion
for ships calling at US ports alone. Developing
countries pay most of them because they have
most voyages to the United States. Developed
countries have around 30% share in the total CO 2
reduction cost. If a levy is used and all these costs

Table 4. CO 2 fund contributions by country groups

CO 2
(mmt)

Charges (million $ per
year) Country Group

Non-Annex I 134 16016

Annex II 59 7097

Transition Econo-
mies