World’s first global shipping carbon price talks back at UN’s bargaining table
As negotiations on a landmark climate agreement introducing the world’s first global carbon price on any polluter are set to catch a second breeze, the resumption of talks at the UN is seen as a big test whether countries can unite against the U.S. and other largely oil-producing states to defend the framework and adopt it as it is later this year to help curb shipping’s reliance on fossil fuels and cut vessel fuel costs in the long-term.
After the International Maritime Organization (IMO) member states agreed in 2023 that meeting the shipping sector’s climate commitments would require a carbon price as an economic measure as well as a fuel standard as a technical measure, the combination was then included in the agreed IMO Net-Zero Framework (NZF) for international shipping in 2025. However, the NZF’s adoption was delayed a few months later, following a close vote, due to strong opposition from the U.S., Saudi Arabia, Russia, and other
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