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World’s First-Ever Global Carbon Tax on Shipping The International Maritime Organization (IMO) has approved the world’s first-ever global carbon tax on the shipping industry. The initiative aims to reduce greenhouse gas emissions from international shipping and accelerate the transition toward cleaner fuels and technologies. Key Features of the Carbon Tax Aspect Details Implementation Year The mechanism will come into effect from 2028. Compliance Mechanism Ships must either switch to cleaner fuels or pay a fee based on their carbon emissions. Revenue Potential The tax could generate up to $40 billion by 2030. Emission Reduction Goal Expected to reduce global shipping…
08 May, 2026
International Environment Agencies & Agreements
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