World’s first global emissions tax moves one step closer to reality | Wilnesh News

Two weeks of negotiations at the UN shipping body ended in London on Friday, with an overwhelming majority of countries backing the introduction of the world’s first global emissions tax.

The International Maritime Organization holds the latest round of negotiations to discuss how to promote climate regulation in the shipping industry, account Accounting for approximately 3% of global carbon emissions.

34 countries from high-income and low-income countries He expressed support A unified greenhouse gas price reflects a sharp increase in support for the last round of negotiations in 2023.

Activists attribute the policy’s momentum to support from Caribbean island nations and say it now looks likely the International Maritime Organization will adopt the measure next year.

The latest round of talks is the first meeting held by the International Maritime Organization since maritime nations agreed on a new greenhouse gas strategy last July. The revised policy, supported by 175 countries, aims to reduce shipping emissions by 30% by 2030, by at least 70% by 2040, and to achieve net-zero emissions by mid-century.

As part of the agreement, the International Maritime Organization agree Implement some form of emissions price by 2025, seeking to help close the price gap between fossil fuels and green energy, and use the revenue generated to fund a just transition.

However, there are other proposals for potential levies as part of other measures. At least 14 countries Continue to support this approach.

“The United Nations is on the verge of adopting the world’s first global emissions price, but the policy will only be successful if countries set it,” said Sandra Chiri, international outreach manager for shipping emissions at the Ocean Conservancy. based initiative group.

“The talks held at the International Maritime Organization in March gave us hope that the vast majority of countries – Caribbean, Pacific, African countries, but also the European Union and Canada – have seen the transformation and implementation of a clean transition for shipping. Huge opportunity for shipping emissions pricing. Ensure all developing countries participate and benefit from it.”

Chiri said in a statement that “it is regrettable that a small number of people have persisted” in trying to water down the proposal.

Shipping industry, responsible for transportation more than 90% of global trade is considered one of the hardest industries to decarbonize, in part because ships burn huge amounts of dirty fossil fuels every year.

Some of the biggest backers of a global tax on greenhouse gas emissions from shipping include the Pacific island nations of Fiji, the Marshall Islands and Vanuatu, and the Caribbean island nations of Barbados, Jamaica and Grenada.

A proposal put forward by Belize and some Pacific island nations in the talks calls for a tax of $150 per ton of carbon, with campaigners calling it “the most ambitious proposal on the table”.

Other proposals include a push to align shipping emissions prices with international maritime fuel emissions standards.

Panos Spiliotis, senior manager for EU transport at Environmental Defense Fund Global Shipping, said: “This week’s IMO talks have successfully advanced global trade negotiations on climate change.”

“As support for a harmonized greenhouse gas price continues to grow, national representatives must now set out the right policy details to incentivize shipping to decarbonise.”

Representatives from the International Maritime Organization are expected to hold talks in the autumn.