The International Maritime Organization (IMO) concluded two weeks of discussions in London, showing strong support for the world's first global emissions tax, according to CNBC.

The talks, focused on steering the shipping industry towards climate-friendly practices, witnessed backing from 34 nations for a universal greenhouse gas price. This landmark agreement represents a major step forward in addressing the environmental impact of maritime transport, which accounts for approximately 3% of global carbon emissions.

Who Supports the Global Emissions Tax?

Advocates praised the progress made with the first global emissions tax, pointing to the broad support from countries like those in the Caribbean and the Pacific Islands, as well as from the European Union and Canada. 

Sandra Chiri, who works to spread awareness about shipping emissions at the Ocean Conservancy, stressed how important it is for countries to work together to ensure this new rule for pricing emissions works well. 

This news follows ongoing attempts to make shipping more eco-friendly. It acknowledges that it is one of the toughest industries to switch to cleaner energy because it mostly uses fossil fuels. 

Countries like Fiji, the Marshall Islands, and Vanuatu in the Pacific, along with places like Barbados, Jamaica, and Grenada in the Caribbean, are some of the biggest supporters of making all ships pay for the pollution they create.

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How Much is the Global Emissions Tax?

No specific amount or calculations have been made yet since the global emissions tax was just recently concluded by the International Maritime Organization (IMO).

However, during discussions, different ideas were suggested to deal with the pollution caused by shipping. 

Belize and some Pacific Islands suggested charging $150 for every ton of carbon emitted by ships, which is seen as one of the boldest ideas discussed. Some also suggest combining this charge with an international rule for how much pollution ships can emit from their fuel. 

These, among others, were all considered to create a complete set of rules to reduce ship carbon pollution.

Moving forward, representatives at the International Maritime Organization (IMO) are scheduled to meet again in the autumn for more discussions. They will continue their work to address climate change in the shipping industry and, hopefully, finalize the global emissions tax.

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