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Shipping companies worldwide are set to face the first international carbon tax on the industry, as many of the largest shipping nations agreed to new rules despite threats of retaliation from the United States.
Members of the International Maritime Organization, a specialized agency within the United Nations that oversees the shipping industry, came to an agreement Friday on charging companies for greenhouse gas emissions released by their vessels in an effort to accelerate a transition to cleaner fuels.
The U.S. was notably absent from the agreement, as President Donald Trump leveled threats against members of the discussions held in London this week.
In a letter circulated to several of the embassies of countries attending the talks, the U.S. said it would impose “reciprocal measures” to protect any U.S.-owned vessels from such a tax.
The letter, obtained by Politico, said that any international agreement would “unduly” and “unfairly burden” the U.S. and its people.
“Accordingly, we must be clear the U.S. rejects any and all efforts to impose economic measures against its ships based on GHG emissions or fuel choice,” the letter read.
It was not clear what the reciprocal measures would entail. The U.S. makes up roughly 0.57% of worldwide commercial shipping, with only 178 vessels having U.S. flags, according to BBC News.
The White House did not respond to the Washington Examiner’s request for comment.
While many of the largest shipping nations came to an agreement on the carbon tax Friday, it fell short of the blanket levy developing countries had been hoping for.
The agreement will require ship owners to pay a fee if their carbon emissions exceed certain levels. This includes a minimum tax of $100 for every ton of carbon dioxide emitted over the lowest baseline.
Those that exceed higher emissions thresholds will be forced to pay a $380 fee.
Once adopted, the tax would go into effect in 2028.
The international levy is expected to raise upward of $40 billion by 2030, with the funds going toward an accelerated transition to cleaner alternatives like biofuels. There was no agreement made as to whether any of the funds would be diverted to developing countries to help facilitate their own domestic green efforts, as some had hoped.
Researchers have estimated that the tax will help reduce emissions by 8% by 2030.
As this falls far below the IMO’s previous goals of roughly 20% within the same time frame, some environmentalists and climate advocates are doubtful the tax will have a meaningful impact.
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“Symbolically, it marks a shift towards strong global climate governance and sets a crucial precedent for pricing emissions in other sectors, like aviation,” Emma Fenton, the senior director of climate diplomacy with Opportunity Green, told The Independent.
“The weak measure agreed means aiming for a low bar and dragging our feet to get there,” Fenton added. “It will neither ensure sufficient emissions reductions, nor raise the revenues needed for a just and equitable transition.”
Lea el articulo original a continuación: msn