World shipping nations have agreed to introduce the industry’s first emissions tax to curb greenhouse gas output.
The International Maritime Organization (IMO) says many of the world’s largest shipping nations have agreed to what amounts to the industry’s first global tax on greenhouse gas emissions.
At a meeting in London, they approved a minimum fee of $100 per ton of greenhouse gases emitted by cargo ships above certain thresholds.
Set to take effect in 2027, the agreement requires cargo ships to adopt less carbon-intensive fuels or face financial penalties.
The European Union, Brazil, China, India, and Japan supported the deal, while major oil producers Russia, the United Arab Emirates, and Saudi Arabia voted against it. The United States abstained.
Shipping is responsible for nearly 3% of global greenhouse gas emissions, according to the IMO. Revenue from the fees, expected to reach around $10 billion a year, will go into the IMO’s net zero fund to support investment in greener fuels and technologies for the shipping sector.
President Donald Trump has paid his respect to the Late Queen Elizabeth by laying a wreath on her tomb....
Georgia has officially closed one of the last remaining chapters of its post-Soviet financial history: the repayment of its longstanding debt to Russi...
Russia resumed regular domestic passenger flights to the southern city of Krasnodar on Wednesday, fully reopening a key regional airport that was clos...
China has launched its first direct break-bulk shipping service to Peru’s Chancay port, marking a new stage in connectivity between Asia and South A...
Iran’s Foreign Minister Abbas Araghchi held a joint telephone conversation with his counterparts from France, Germany and the UK as well as the EU f...
A decision on the European Union’s proposed 2040 climate emissions target has been delayed, with ministers now set to discuss it at an October summit instead of next week, EU officials said.
Canada’s government is in talks with Alberta and energy firms about scrapping a federal emissions cap on the oil and gas sector, sources told Reuters, if the industry commits to reducing its carbon footprint through other measures.
A powerful 6.0-magnitude earthquake struck eastern Afghanistan on Monday, leaving more than 800 people dead and 2,800 injured, according to a government spokesperson. Rescue teams are struggling to reach remote villages and evacuate the wounded to safety.
Türkiye is facing a severe drought that is impacting water resources, shrinking reservoirs and unprecedented shortages affecting daily life, agriculture, and industry.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
President Donald Trump has paid his respect to the Late Queen Elizabeth by laying a wreath on her tomb.
Russia resumed regular domestic passenger flights to the southern city of Krasnodar on Wednesday, fully reopening a key regional airport that was closed for more than three years due to security concerns linked to the war in Ukraine.
Iran’s Foreign Minister Abbas Araghchi held a joint telephone conversation with his counterparts from France, Germany and the UK as well as the EU foreign policy chief as Iran and Europe are at loggerheads over the future of sanctions against Tehran’s nuclear program.
Yulia Navalnaya, the wife of late Russian opposition leader Alexei Navalny, has revealed that her husband has been poisoned.
On Wednesday, the European Commission proposed suspending free-trade arrangements on Israeli goods due to the ongoing Gaza conflict. This move is part of the EU's efforts to address the war's humanitarian and political impacts, but it lacks sufficient support from EU member states to pass.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment