The United States has withdrawn from the climate talks at the International Maritime Organization (IMO) in London, expressing opposition to a global fuel emissions standard for the maritime sector. Despite this, other countries have approved the deal which will impose fees on ships that exceed emissions thresholds, with funds going towards promoting cleaner fuels. The deal aims to reduce net emissions from international shipping by 20% by 2030 and eliminate them by 2050.
The talks have highlighted divides among governments regarding how quickly to push the maritime sector to reduce its environmental impact. A proposal for a stronger carbon levy on all shipping emissions was dropped after opposition from countries such as China, Brazil, and Saudi Arabia.
Industry groups have welcomed the deal, emphasizing the need to scale up investments in zero-emission fuels. By 2030, ships will be required to reduce emissions intensity of their fuel by 8% compared to a 2008 baseline, with a more stringent standard demanding a 21% reduction. Ships that exceed emissions reductions will be rewarded with credits that can be sold to non-compliant vessels.
The World Wildlife Fund for Nature has described the agreement as a groundbreaking moment for the shipping industry, but has also highlighted concerns that certain aspects are insufficient to meet the necessary goals. The carbon pricing measure is expected to be formally adopted at the IMO assembly in October.
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