New Delhi, April 12 Sixty-three countries, including India, have voted in favour of the world's first-ever global carbon tax imposed on the shipping industry by the International Maritime Organisation (IMO).
The draft regulations will set mandatory marine fuel standard and greenhouse gas (GHG) emissions pricing for shipping to address climate change.
Approved by the Marine Environment Protection Committee during its 83rd session (MEPC 83) from April 7–11, the measures include a new fuel standard for ships and a global pricing mechanism for emissions.
Starting 2028, ships will either have to shift to lower-emission fuels or pay a fee for the pollution they generate. The tax could generate up to $40 billion by 2030.
The IMO Net-zero Framework is the first in the world to combine mandatory emissions limits and GHG pricing across an entire industry sector.
These measures, set to be formally adopted in October 2025 before entry into force in 2027, will become mandatory for large ocean-going ships over 5,000 gross tonnage, which emit 85 per cent of the total CO2 emissions from international shipping, according to an IMP statement.
IMO Secretary-General Arsenio Dominguez commended the spirit of cooperation and commitment demonstrated by Member States.
“The approval of draft amendments to MARPOL Annex VI mandating the IMO net-zero framework represents another significant step in our collective efforts to combat climate change, to modernise shipping and demonstrates that IMO delivers on its commitments,” said Dominguez.
“Now, it is important to continue working together, engaging in dialogue and listening to one another, if we are to create the conditions for successful adoption,” Dominguez added.
The goal is to achieve the climate targets set out in the 2023 IMO strategy on the reduction of GHG emissions from ships, accelerate the introduction of zero and near zero GHG fuels, technologies and energy sources, and support a just and equitable transition.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor