The United Nations shipping agency is on the cusp of introducing binding regulations to phase out fossil fuel use in global shipping — with the world’s first-ever global emissions levy on the table.
The International Maritime Organization (IMO) will this week hold talks at its London headquarters to hammer out measures to reduce the climate impact of international shipping, which accounts for around 3% of global carbon emissions.
Some of the measures on the table include a global marine fuel standard and an economic element, such as a long-debated carbon levy or a carbon credit scheme.
If implemented, a robust pricing mechanism in the shipping sector would likely be considered one of the climate deals of the decade.
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The United Nations shipping agency is on the cusp of introducing binding regulations to phase out fossil fuel use in global shipping — with the world’s first-ever global emissions levy on the table.
The International Maritime Organization (IMO) will this week hold talks at its London headquarters to hammer out measures to reduce the climate impact of international shipping, which accounts for around 3% of global carbon emissions.
Some of the measures on the table include a global marine fuel standard and an economic element, such as a long-debated carbon levy or a carbon credit scheme.
If implemented, a robust pricing mechanism in the shipping sector would likely be considered one of the climate deals of the decade.
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