Global Carbon Tax on Shipping Edges Closer to Becoming Reality
A global levy on carbon emissions inched closer to reality recently when the UN’s International Maritime Organization (IMO) concluded two weeks of negotiations in which a majority of nations involved agreed on a global carbon levy as part of the shipping industry’s “net-zero framework” for cutting greenhouse-gas emissions from international shipping.
According to climate zealots, the shipping industry alone accounts for close to three percent of global greenhouse-gas emissions. Last year, IMO representatives from 175 nations agreed to a new greenhouse-gas strategy, which would see emissions slashed by 30 percent by 2030 and by 70 percent by 2040. The goal is to be at so-called net zero emissions by the middle of the century.
Industry insiders see the new global carbon tax as a fait accompli.
You can return to the main Market News page, or press the Back button on your browser.
