W’ Bank Seeks Carbon Tax On Maritime Transportation

The Director, Environment Department of the World Bank, Ms Mary Barton-Dock, has called for a carbon tax on maritime transportation to tackle climate change threat.

She made the call on Wednesday, in Durban, at an event on ”Finance, Capacity Building and Public Education for Adaptation,” at the ongoing United Nations Convention on Climate Change negotiation.

Barton-Dock said the tax, if adopted, could be ploughed back into measures to protect the ocean, development and other vital risk reduction projects.

She stressed the need to tap private sector resources for oceans conservation, noting that the private sector also benefited from the oceans’ productivity.

According to her, the World Bank would be carrying out work on wealth analysis to upgrade the value of oceans and coastal ecosystem services.

The Chief Director, Integrated Costal Management, Department of Environmental Affairs and Tourism, South Africa, Razeena Omar, said that climate change had posed a huge concern and challenge to Africa.

Omar explained that the continent had adopted a programme of action for African coastal countries on the need to make adaptation central to a future climate regime.

The Executive Director, Munich Climate Insurance Initiative, Koko Warner, said that financial risk management could play a role in reducing climate change threat.

He emphasised the need for governments to educate themselves on the risk they faced in tackling climate change, and urged them to use the experience to engage in risk reduction strategy.

“Insurance is the only one of a combination of tools that can be used in the context of adapting to climate change.”

Also, Mrs. Janot de Suarez of Global Ocean Forum Working Group on Oceans and Climate, said more funds and priority should be dedicated to island and coastal communities, since the impact of climate change affects them the most.