A global CO2 tax on shipping could be years into the future

The first concrete proposal for a global CO2 tax is in the works at the IMO, just as three of the world's major shipping organizations have turned on a dime and now call for a tax on emissions. Realistically, however, it will be several years before such a tax is introduced.

Photo: PR-foto Green Instruments/69734198

It may not come as a surprise that the first proposal at the IMO actively calling for a CO2 tax or levy to be imposed on the global shipping industry comes from two of the nations that risk disappearing from the face of the earth first. The Marshall Islands and the Solomon Islands.

But apart from the fact that a CO2 tax is now on the agenda at the IMO and the body's Marine Environment Protection Committee, MEPC, it is highly unlikely that the proposal to tax a tonne of carbon dioxide with USD 100, put forward by the two island nations, will also be the one that is adopted. And definitely not within the next few years.

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