The International Maritime Organization (IMO), as part of the United Nations, is normally known for grindingly slow procedure. And when decisions are adopted, they are almost always unanimous and do not rock the collective boat. But the 11 April approval of a two-tier tax on emissions from global shipping has all but sunk the organization’s reputation for consensus before a final vote in October.
Shipping makes up around 3% of global emissions on a tons of CO2-equivalent basis according to the IMO. And the tax aims to incentivize shipowners to reduce emissions from the sector. Since the announcement, industry bodies and NGOs have taken aim at the decision from all sides. But within the IMO the proposed tax found its strongest opposition from a bloc of countries, including the GCC and other oil producers, that voted against the measure. (CONTINUED – 901 WORDS)
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