IMO Finalizes Global CO₂ Pricing and Emission Rules for Maritime Industry

The new measures, including financial penalties and stricter fuel standards, aim to cut emissions and achieve climate neutrality by 2050.

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.