Universal carbon levy unlikely at this week’s IMO green gathering

Member states of the International Maritime Organization (IMO) will discuss a carbon price on international shipping – the world’s first global pricing of emissions on any sector – at the 83rd session of the Marine Environment Protection Committee (MEPC 83) meeting in London this week.

The IMO promised to adopt an economic measure as a way to deliver its agreed emission cuts: 30% by 2030, 80% by 2040, to reach zero by 2050. 

A study by UNCTAD, commissioned by the IMO, found that a levy of $150 to $300 a tonne of greenhouse gas, if designed correctly, is the best way to minimise the economic impacts of shipping decarbonisation on global GDP growth, and to promote global economic equality.

Bastien Bonnet-Cantalloube, an expert on transport decarbonisation at Carbon Market Watch, said: “While nations strive for fair and equitable shipping emissions cuts, IMO talks risk going nowhere. Governments must step up to ensure all GHG emissions are priced, as there is a need to refocus efforts on the levy championed by the majority.”