The European Union is due to propose an unprecedented overhaul to its carbon market this week, seeking to put a price on shipping emissions for the first time.
, the ETS is now widely expected to expand to include shipping for the first time.
"It is taxation. Does that help anything when it comes to decarbonization? I don't think so. It looks more like it is an effort to collect money — and so be it," Pedersen continued. "Europe decides what Europe decides and there's not so much you can do about that, I guess, other than highlight that it might not be the most appropriate way to reduce emissions.
Pedersen said it was important not to panic over the leaked draft, noting that it could still be revised in the coming days and there are many more hurdles to overcome before the measures become EU policy.
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