Overview

• The International Maritime Organization (IMO) has agreed on a global CO₂ pricing system, requiring ships to adopt lower-carbon fuels starting in 2028.
• Excess emissions will incur financial penalties, beginning at $100 per ton of CO₂, with fines increasing for greater violations.
• A new emissions control zone from Portugal to Greenland will enforce stricter sulfur and nitrogen oxide limits starting in 2027.
• The system is projected to generate $11–13 billion annually, funding cleaner fuel development and climate adaptation in developing nations.
• Environmental groups warn the measures may encourage harmful biofuel use, while some nations and organizations call for more ambitious action.