Shipping industry proposes fund to tackle carbon emissions

A global shipping industry organization is proposing a research and development program to help cut carbon dioxide emissions, funded by about US$5 billion from shipping companies over a decade. The International Chamber of Shipping said Wednesday that it is proposing creating a nongovernmental organization to be known as the International Maritime Research and Development Board. It would be overseen by member countries of the UN maritime agency and financed by shipping companies through a mandat