Nations impose first global carbon tax on shipping emissions by 2028

Major shipping nations have agreed to impose a minimum tax of $100 per ton of carbon dioxide emitted by ships starting in 2028, marking the first global tax on greenhouse gas emissions from this sector. The agreement was reached during the International Maritime Organization's meeting in London, with the United States notably absent, and aims to encourage the use of cleaner fuels to combat emissions that currently account for about 3% of global greenhouse gas output. While some environmentalists hailed the decision as historic, others criticized it for not being ambitious enough, arguing that it won't sufficiently reduce emissions or generate enough funds for developing countries to transition to greener practices. The agreement includes a marine fuel standard and aims for net zero emissions from shipping by around 2050. Critics, including Emma Fenton from Opportunity Green, expressed concerns that the measures agreed upon fall short of the necessary ambition to address the climate crisis effectively. Despite challenges, the agreement sets a precedent for pricing emissions in other sectors and reflects a shift towards stronger global climate governance.