In a significant step towards addressing climate change, countries have reached a tentative agreement that would require cargo ships to reduce their greenhouse gas emissions or pay a fee. This draft agreement was established in London under the International Maritime Organization (IMO) and highlights the shipping sector, which is responsible for around 3% of global emissions, parallel to aviation. The proposed measures, which fall short of ambitious expectations, represent a first for a global industry facing a financial toll on its climate impact.
### New Global Shipping Agreement Mandates Emission Cuts or Fees
### New Global Shipping Agreement Mandates Emission Cuts or Fees
A historic draft treaty aims to enforce greenhouse gas emission reductions in the shipping industry through a new fee structure.
The agreement, set to take effect in 2028 pending ratification, seeks to promote the transition to cleaner fuels for the shipping sector. The negotiations proceeded successfully despite the United States departing the discourse earlier this week, indicating a remarkable level of international collaboration on climate action. According to Faig Abbasov, a representative from Transport and Environment, the policy aims to promote decarbonization across the maritime industry.
The rules apply universally to all ships regardless of registration, including U.S.-flagged vessels, although Washington's future engagement with the new fee structure remains uncertain.
The rules apply universally to all ships regardless of registration, including U.S.-flagged vessels, although Washington's future engagement with the new fee structure remains uncertain.
