New Delhi: India joined 62 other countries by agreeing to the world Global carbon taxes Bringing commercial shipping under this mechanism to tackle greenhouse gas emissions in this sector. Under the agreement, ship owners will need to use cleaner fuel or facial fines starting at 2028.
Shipping is currently 3 % of global emissions. Since this sector is not under the Paris Agreement, the legally binding contract on imposing a global carbon tax on shipping to deal with exit is a significant development toward the ‘net zero’ purpose as a whole.
After voting at the United Nations International Maritime Organization (IMO) in London later, these countries agreed on the global framework. The agreement reached after about 10 years of negotiations, aimed at costing carbon on shipping emissions. It is expected that the sector is expected to help clear and encourage the use of cleaner technologies.
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Do you support the implementation of global carbon tax on trade shipping?
Carbon pricing measures, formally adopted in October, will be mandatory for more than 5,000 overall tension ships, which eliminates 85 % of the total emissions of carbon dioxide from international shipping.
Under the unanimous framework, if a ship continues to use traditional fuel in 2028, it depends on crossing the doorstep of ‘base’ and ‘direct compliance’ goals, which will have to pay $ 100 to $ 380 per ton. An estimated carbon tax can generate up to $ 40 billion by 2030. Funds will be used specifically to lack the shipping industry.
A total of 63 countries, including India, China, the European Union, Norway, Singapore, South Africa and Japan, voted in favor of the agreement, while 16, including oil -producing Saudi Arabia, the United Arab Emirates, Russia and Venezuela, voted against it, and 25 countries, most of the countries, and more. The US delegation was not present at the time of voting, the principle of not engaging in the negotiations remained firm.
IMO Secretary -General Ressonio Domingio praised the spirit of cooperation and commitment through the shipping countries, saying, “Now, it is important to work together, join the dialogue and listen to each other, if we create conditions for successful adoption.”
Many expert groups pointed out that by 2030, the shipping sector is likely to provide a 10 % absolute emission reduction, which is much lower than the IMO’s goals in the revised strategy in 2023, demanding a minimum of 20 % cutting by 2030, which is a 30 % goal.
