In a landmark move, the world’s leading shipping nations have agreed to impose a global greenhouse gas emissions fee, marking the first international tax on carbon emissions in maritime transport. Beginning in 2027, ships that exceed certain emission thresholds will be charged a minimum of US$100 per tonne of greenhouse gases, potentially generating US$10 billion annually for the International Maritime Organization’s (IMO) net-zero fund.
This fund aims to accelerate the transition to green shipping through investments in alternative fuels and clean technologies. While thresholds will become stricter over time, the fee is designed to help the IMO reach its net-zero emissions goal for the industry by 2050.
The agreement, however, was made without the participation of the United States, which opposed the measures, citing concerns over economic impacts and inflation. Despite this, IMO Secretary-General Arsenio Dominguez hailed the consensus as a meaningful step forward.
Reactions have been mixed. Environmental groups like Opportunity Green argue the fee doesn’t go far enough and could allow companies to pay to pollute rather than decarbonize. Others, such as the Environmental Defense Fund, called it a critical first step, urging further strengthening of fuel standards and support for vulnerable nations.
In parallel, the IMO approved a new emissions control area in the North-East Atlantic, requiring ships entering ports in regions like the UK, France, and Greenland to adhere to stricter emission standards.
A compromise was reached between countries advocating for a fixed tax and those preferring a credit-trading model, including Brazil and China. The result is a hybrid framework reflecting diverse geopolitical interests in tackling climate change.
Source: Swifteradio.com
