Overview
- The International Maritime Organization (IMO) is negotiating binding regulations to decarbonize global shipping, including a carbon tax and marine fuel standards.
- Over 60 nations, led by Pacific island states, support a flat emissions levy to fund climate action and ensure equitable decarbonization.
- Major economies like China, Brazil, and Saudi Arabia oppose the levy, favoring a credit trading model, raising concerns about diluting the agreement.
- Revenue from the proposed levy could aid developing nations in transitioning to cleaner shipping technologies, addressing climate justice concerns.
- The outcome of this week’s London talks will determine whether the regulations can be finalized for adoption in October 2025, with implementation targeted for 2027.