New international carbon tax on shipping is significant, but falls short of climate goals

A new carbon pricing system adopted by the International Maritime Organization could reduce global shipping emissions slightly by 2030 but fails to meet the agency’s climate targets.

Joseph Winters reports for Grist.

In short:

The International Maritime Organization (IMO) has approved a global carbon pricing policy for shipping that penalizes companies for exceeding greenhouse gas intensity targets and rewards cleaner operators with tradeable credits.
Despite being called historic, the plan’s complexity and limited scope mean it is projected to cut emissions by just eight to 10 percent by 2030, far below the IMO’s goal of at least 20%.
Several small island nations and climate advocates criticized the deal for excluding a flat tax on emissions and restricting revenue use to the shipping sector, rather than broader climate resilience efforts.

Key quote:

“It doesn’t meet the IMO’s climate targets, but it’s generally still a very welcome outcome for us.”

— Nishatabbas Rehmatulla, principal research fellow, University College London Energy Institute

Why this matters:

Shipping is a major but often overlooked driver of climate pollution, responsible for roughly 3% of global emissions — on par with the aviation sector. Unlike land-based sources, maritime emissions are harder to regulate because ships cross borders and operate under international law. Small island nations, which face the highest risk from rising seas, have long pushed for bold shipping reforms, but wealthy and oil-producing countries have repeatedly stalled progress. The new carbon pricing system is a diplomatic compromise that exposes deep divisions about how to finance a just transition. While it sends a market signal toward cleaner technologies, its projected impact remains limited and may delay the pace needed to avoid catastrophic climate impacts. With shipping volumes expected to grow, the world’s ability to rein in this sector will be a litmus test for international climate cooperation.

grist.org

New international carbon tax on shipping is significant, but falls short of climate goals

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