IMO Approves First Global Carbon Pricing Framework for Shipping

The agreement, set to start in 2028, imposes tiered emissions fees and introduces carbon credit trading, but faces criticism for lacking ambition and U.S. opposition.

The International Maritime Organization (IMO) has approved a global carbon pricing system for shipping, marking the first sector-wide emissions tax of its kind.
Starting in 2028, ships exceeding emissions thresholds will face fees of $100 per ton for moderate excess emissions and $380 per ton for higher levels.
The framework includes carbon credit trading to encourage cleaner fuel adoption and operational efficiency, with revenues projected at $10 billion to $40 billion annually.
The U.S., under the Trump administration, withdrew from negotiations, opposing the measures and threatening reciprocal actions against fees on American ships.
Critics, including climate-vulnerable nations and environmental groups, argue the deal falls short of the emissions reductions and funding needed to meet urgent climate goals.