Historic tentative agreement on reducing emissions from maritime transport

The International Maritime Organisation’s committee voted on an emissions cap for shipping that would come into force in 2028.

The UN’s International Maritime Organisation committee reached a tentative agreement on Friday on reducing greenhouse gas emissions from global shipping.

The aim of the Marine Environment Protection Committee is for maritime transport to be carbon neutral by 2050 or beyond. The decision is historic as, when it comes into force, it will be the first industry-wide global carbon tax. The measures have been negotiated for ten years.

According to a press release from the Finnish Ministry of Transport and Communications, the committee will decide on the final measures in October this year.

The regulation on which the Committee has now negotiated would set the border for greenhouse gas emissions from ships. If the ship’s border is exceeded, it should be fined for each tonne of emission crossing.

The emission limit would take effect in 2028.

The money from the emissions limit would be directed to the International Fund of the International Maritime Organization, which would support the development of ship fuels and technologies into greenhouse gas emission or low -emission.

The decision was voted at the request of Saudi Arabia. The United States was not present at the time of the vote as the country left the negotiations on Wednesday. According to the Finnish Ministry of Transport and Communications, Finland would have liked a more effective solution, but approved the compromise after long negotiations.

*Sources: AP, BBC, Reuters*