Countries reached a significant agreement to curb climate pollution from international shipping. The accord, brokered by the International Maritime Organization (IMO), mandates that all ships reduce greenhouse gas emissions or pay a fee.
This marks the first time a global industry faces a price on its climate pollution regardless of location. The agreement's success is notable considering the U.S. withdrew from the talks earlier in the week; however, other countries continued to support the initiative. The IMO head expressed confidence in its adoption in October.
The agreement represents a rare instance of international cooperation on climate action within the maritime sector. It's a significant step towards decarbonizing the shipping industry, although the targets set are considered modest by some.
Amid the turmoil over global trade, countries around the world reached a remarkable, though modest, agreement Friday to reduce the climate pollution that comes from shipping those goods worldwide — with what is essentially a tax, no less.
A accord reached in London under the auspices of the International Maritime Organization, a United Nations agency, would require every ship that ferries goods across the oceans to lower their greenhouse gas emissions or pay a fee.
The targets fall short of what many had hoped. Still, it’s the first time a global industry would face a price on its climate pollution no matter where in the world it operates. The proceeds would be used mainly to help the industry move to cleaner fuels. Some of it could also go to developing countries most vulnerable to climate hazards. The accord would come into effect in 2028, pending approval by country representatives at the agency’s next meeting in October.
Given the widespread support for Friday’s terms, the head of the organization expressed hope it would be adopted in October with few or no changes.
The agreement marks a rare bit of international cooperation that’s all the more remarkable because it was reached even after the United States pulled out of the talks earlier in the week. No other countries followed suit.
“The U.S. is just one country and that one country cannot derail this entire process,” said Faig Abbasov, shipping director for Transport and Environment, a European advocacy group that has pushed for measures to clean up the maritime industry. “This will be first binding decision that will force shipping companies to decarbonize and switch to alternative fuels.”
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