Governments expected to agree on world’s first levy on shipping emissions at upcoming IMO meeting

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🗞️ Driving the news: Growing international support for a global tax on shipping emissions, with a decision likely to be reached at a key UN meeting next week
• Over 50 countries, including major shipping nations like Greece, Japan, and the UK, back a proposal to charge vessels a flat fee for each tonne of carbon emitted
• The proposed tax could range between US$18-150 per tonne of greenhouse gas, depending on the final agreement

🔭 The context: The shipping industry, responsible for nearly 3% of global greenhouse gas emissions, has been under increasing pressure to decarbonize
• Studies show that a higher carbon levy could help mitigate the economic impacts of decarbonization on global GDP, if the revenues are directed to the most climate-vulnerable nations
• The International Chamber of Shipping (ICS) supports the proposal, calling it a pragmatic solution for achieving net-zero emissions by 2050

🌍 Why it matters for the planet: Shipping is one of the most carbon-intensive industries, with the potential to significantly reduce its emissions by transitioning to cleaner fuels
• A carbon tax would incentivize the shipping industry to adopt alternative fuels such as ammonia, biofuels, methanol, and hydrogen
• If adopted, the tax could help accelerate the transition to a greener global shipping sector

⏭️ What's next: A decision on the levy is expected at the International Maritime Organization (IMO) meeting next week, with a global implementation planned for early 2027
• Countries are finalizing the details, with key discussions focused on the strength of the levy and its ability to drive meaningful change in emissions reduction

💬 One quote: “The debate is no longer about whether a levy is needed, but about ensuring it is strong enough to be effective” — Albon Ishoda, Marshall Islands Special Envoy for Maritime Decarbonization

📈 One stat: If the shipping industry were a country, it would be the sixth-largest emitter of greenhouse gases, ranking between Japan and Germany

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