London: Friday’s decision to impose a minimum tax of $100 per ton of carbon dioxide if its planetary heating emissions has not been imposed, which is actually the first global tax on greenhouse gas emissions. If countries are under-contributed to the IMAO’s net zero fund and their vessels do not meet their compliance targets, fees will be charged.
Members of the International Maritime Organization – apparently not with the United States – reached the agreement, which will come into effect in 2028. The group also sets marine fuel standards for the clean fuel phase. According to the United Nations, emissions from transport have increased over the past decade, accounting for 3% of the global total, as vessels become larger, providing more cargo and using large amounts of fuel per trip.
IMO Secretary-General Arsenio Dominguez said at the closing ceremony that the organization has reached a meaningful consensus in the face of complex challenges to addressing climate change and modernizing transportation. Some environmentalists who attended the meeting called the tax a “historic decision” but also said more could be achieved. The tax doesn’t capture all emissions or drive enough emission reductions, nor does it increase enough revenue to help developing countries transition to green transport, Emma Fenton, senior director of climate diplomacy in the UK, said the UK-based climate change nonprofit, green opportunities.
“The IMO made a historic decision, but ultimately failed the climate-vulnerable countries and did not meet the requirements of the climate crisis two years ago and the ambitions of member states,” they said. Other groups welcomed the IMO’s decision, a step in the right direction.
By approving global fuel standards and greenhouse gas pricing mechanisms, the IMO has taken crucial steps to reduce the climate impact of transportation. Member States now must now provide overtime on strengthening fuel standards to more effectively incentivize the adoption of zero and zero elements in the industry and ensure global and fair trade relies on global trade. Stamatiou of the Environmental Defense Fund.
The day before, deputies approved a proposal to designate a Northeast Atlantic emission control zone. Vessels passing through the region will have to comply with stricter controls on fuel and its engines to reduce pollution. The IMO, which manages international transport, sets a goal for the industry to reach zero net greenhouse gas emissions by around 2050 and is committed to promoting fuels with zero or near zero emissions.
A part of the IMO Marine Environmental Protection Commission has attended the meeting in London and completed its decision on Friday.
A major issue during the meeting was the way taxes were collected. More than 60 countries have negotiated to drive simple taxes per metric ton of emissions. They are led by the Pacific island nations and their presence is threatened by climate change.
Other countries with a considerable maritime fleet (especially China, Brazil, Saudi Arabia and South Africa) want to establish a credit transaction model rather than a fixed taxation. Finally, a trade-off between the two models is achieved. Instead of participating in London’s negotiations, the United States urged other governments to oppose greenhouse gas emission measures being considered. The Trump administration said it would reject any efforts to take economic measures against ships based on emissions or fuel options, which it said would burden the industry and drive inflation.
