At the upcoming International Maritime Organization (IMO) meeting in London, countries are expected to finalize a groundbreaking global shipping levy aimed at curbing emissions. Over 50 nations, including major shipping players like Greece, Japan, Korea, and the UK, support a flat fee per tonne of carbon emitted, with proposed rates ranging from $18 to $150.

A UNCTAD study suggests a levy of $150-300 per tonne could mitigate economic impacts if revenues are directed toward climate-vulnerable states. The shipping industry, responsible for nearly 3% of global emissions, sees carbon pricing as a crucial step toward decarbonization. If approved next week, the levy is set for global implementation by early 2027.

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