Global shipping carbon pricing back on the UN negotiating table amidst geopolitical and climate turmoil
Negotiations are resuming at the UN on the Net-Zero Framework (NZF) for international shipping, a landmark climate agreement introducing the world’s first global carbon pricing on any polluter. The International Maritime Organization (IMO) meets in London on 1-4 September in a working group (ISWG-GHG-22). The climate talks take place against the backdrop of geopolitical conflicts ...
International shipping emissions are gaining global attention as climate negotiations resume at the United Nations. The International Maritime Organization (IMO) is set to discuss the Net-Zero Framework (NZF), which proposes the first-ever carbon pricing on any polluter in the shipping industry. The negotiations come amid geopolitical tensions and climate disruptions, such as the ongoing war in the Middle East and drought affecting key trade routes.
During the ISWG-GHG-22 meeting in London from September 1-4, countries will debate critical policy details, including clean energy measures and the management of $10-15 billion in carbon pricing revenues. Several countries have proposed different approaches to the NZF, ranging from strengthening it to a flat levy to abandoning it altogether.
Support for the NZF remains strong, with 55 countries backing the current version and 51 favoring changes. The framework aims to help the shipping industry achieve net-zero emissions by 2050. However, experts warn that removing the carbon price would hinder the transition to cleaner fuels and disproportionately impact developing countries, who are most vulnerable to the climate crisis.
Ministers and representatives from various countries have voiced their support for a robust and ambitious NZF, emphasizing the need for a just and equitable energy transition. The decisions made in September will have far-reaching consequences for the shipping industry and global climate efforts.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.