The US withdrew climate consultations at London’s International Maritime Agency this week.
The United Nations Maritime Agency state has contracted for global fuel emission standards for the maritime sector. This charges an emissions fee on the vessel that will violate it and reward the vessel that burns fuel.
The US this week withdrew climate consultations at the International Maritime Organization (IMO) in London, doing the same to other countries and threatening to impose “mutual measures” on fees charged to US ships.
Nevertheless, other countries have approved CO2 cutting measures to meet the IMO targets to reduce net emissions from international transport by 20% by 2030 and eliminate them by 2050.
The majority of IMO voted on Friday to approve a scheme that will charge a $380 penalty per metric ton for each CO2 equivalent exceeding the fixed emissions threshold starting in 2028, and approved a $100 penalty per 100 tonne for emissions above even more stringent emissions limits.
The deal is expected to generate fees up to $400 billion starting in 2030.
The talks have exposed a deep rift between governments about how quickly they will push the maritime sector to reduce environmental impact.
The proposal to collect stronger carbon on all shipping emissions supported by the climate-hitting Pacific countries that abstained in Friday’s vote was removed after opposition from several countries, including China, Brazil and Saudi Arabia, a representative told Reuters.
Vanuatu’s Climate Minister Ralph Lebenbanu said the country “could not support a series of measures leading the shipping industry to the 1.5°C pathway.”
The International Chamber of Sipping, an industry group, welcomed the deal, saying it needed a massive expansion of such fuel.
“We are pleased to see that the government understands the need to catalyze and support investment in zero-emission fuel,” ICS said in a statement.
In 2030, the main emission limits would require vessels to reduce fuel emissions by 8% compared to the 2008 baseline, but stricter standards would require a 21% reduction.
By 2035, the main standard will reduce fuel emissions by 30%, with a stricter standard of 43%.
Ships that reduce emissions to below stricter limits will be rewarded with credits that can be sold to non-compliant vessels.
“This is a groundbreaking moment for the shipping industry. It should mark a turning point in the greenhouse gas trend from global transport,” Mark Lutes, senior adviser at the NGO World Wildlife for Nature Fund, said in a statement.
“However, a key aspect of this contract is beyond what you need and risks blowing away the transition from the course,” he added.
Carbon pricing measures must be officially adopted at the IMO assembly in October.
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