"Global Momentum: Universal GHG Price and Emissions Tax on the Horizon"
The International Maritime Organization's recent meeting in London saw a majority of countries expressing support for the world's first global emissions levy, aiming to achieve net zero shipping emissions by 2050. This marks a significant step in the effort to regulate the shipping industry's carbon emissions, which account for about 3% of global emissions. The proposed levy, backed by countries from various income brackets, is seen as a crucial step towards incentivizing shipping decarbonization and ensuring an equitable transition to cleaner energy sources.