The levy will have it introduced in 2027.
“We will have a pricing mechanism,” said the IMO’s secretary general,
Arsenio Dominguez, in a meeting with journalists at the organization’s London
headquarters. “Of that, I have no doubt.”
When it comes into
force, the IMO’s mechanism is set to be the planet’s first ever global,
mandatory price for GHG emissions — no other discussions for
any other sector are as advanced, according to Dominik Englert, a senior
economist at the World Bank.
“The UN is on the edge of
adopting the world’s first-ever global emissions price, but the policy will only be as successful as
countries make it,” said Sandra Chiri, a shipping manager at the
not-for-profit organization Ocean Conservancy.