The Latest: Shipping firms seek technology to cut emissions

The latest on the U.N. climate summit COP26 in Glasgow:

GLASGOW, Scotland — Major shipping companies called Friday for governments to put more money into researching and developing cleaner technologies to help the industry reduce its greenhouse gas emissions.

The International Chamber of Shipping said the industry isn’t on track to meet its goal of cutting carbon emissions to net-zero by 2050 with current policies.

The trade group represents shipping companies that include MSC and Hapag Lloyd. Industry representatives and government ministers are meeting at the U.N. climate summit in Glasgow.

The group said it is asking governments to increase R&D spending, including by backing a proposal at the International Maritime Organization that would see ship owners set up a $5 billion fund to boost clean shipping technology.

Shipping currently accounts for about 3% of global emissions.

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GLASGOW, Scotland — Anti-poverty charitable confederation Oxfam says the world’s richest people continue to produce the lion’s share of greenhouse gas emissions.

A study released Friday on the sidelines of the U.N. climate summit in Glasgow concluded that the richest 1% of the planet’s population is expected to account for 16% of total global emissions by 2030.

The study, commissioned by Oxfam, calculated that each member of the richest 1% will emit 30 times more than the 2.3 metric tons of carbon dioxide deemed compatible with the goal of capping global warming at 1.5 degrees Celsius (2.7 Fahrenheit).

The poorest 50% on the planet, meanwhile, will continue to emit less than that amount per person by 2030.

Oxfam said the study indicates that a tiny elite of ultra-rich people “appear to have a free pass to pollute.”

“The emissions from a...