EconomyLens.com
No Result
View All Result
Friday, October 17, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Other

US sinks international deal on decarbonising ships

Natalie Fisher by Natalie Fisher
October 17, 2025
in Other
Reading Time: 7 mins read
A A
0
19
SHARES
236
VIEWS
Share on FacebookShare on Twitter

The London-based IMO, which is the shipping body of the United Nations, voted in April for a global pricing system to help curb maritime carbon emissions. ©AFP

London (AFP) – An international vote to formally approve cutting maritime emissions was delayed by a year on Friday, in a victory for the United States, which opposes the carbon-cutting plan. The London-based International Maritime Organization (IMO), which is the shipping body of the United Nations, voted in April for a global pricing system to help curb greenhouse gases. However, a vote on whether to formally approve the deal was cancelled on Friday until next year after U.S. President Donald Trump threatened sanctions against countries backing the plan.

Related

Stocks slide even as fears over banks, trade war ease

US stocks rise as fears over banks, trade war ease

Women designers ‘not getting the breaks’ despite global fashion shake-up

Caracas records 8.7 pct growth but Venezuelans lament economic woes

China’s economic growth slowed to 4.8% in third quarter: AFP poll

Increased divisions, notably between oil-producing nations and non-oil producers, emerged this week at meetings leading up to Friday’s planned follow-up vote to approve the scheme. Delegates instead voted on a hastily arranged resolution to postpone proceedings, which passed by 57 votes to 49. Trump on Thursday said the proposed global carbon tax on shipping was a “scam” after the United States withdrew from IMO negotiations in April. A Russian delegate described proceedings as “chaos” as he addressed the plenary on Friday after talks had lasted until the early hours. Russia joined major oil producers Saudi Arabia and the United Arab Emirates in voting against the carbon-reduction measure in April, arguing it would harm the economy and food security.

IMO Secretary-General Arsenio Dominguez, representing 176 member states, pleaded on Friday in hopes that there would be no repeat of how the week’s discussions had gone. “It doesn’t help your organization, it doesn’t help yourself,” he told delegates.

Since returning to power in January, Trump has reversed Washington’s course on climate change and encouraged fossil fuel use by deregulation. “I am outraged that the International Maritime Organization is voting in London this week to pass a global Carbon Tax,” Trump wrote on his Truth Social platform Thursday. “The United States will NOT stand for this Global Green New Scam Tax on Shipping,” he added, urging countries to vote against it. Washington threatened to impose sanctions, visa restrictions, and port levies on those supporting the Net Zero Framework (NZF), the first global carbon-pricing system.

Liberia and Saudi Arabia called for Friday’s vote to be postponed. “We agree with the United States that it’s important that these conversations are brought to light,” a Saudi representative said. Ahead of this week’s London gathering, a majority of 63 IMO members that in April voted for the plan had been expected to maintain their support and to be joined by others to formally approve the NZF. Argentina, which in April abstained from the vote, now opposes the deal. Leading up to Friday’s decision, China, the European Union, Brazil, Britain, and several other members of the IMO reaffirmed their support.

The NZF requires ships to progressively reduce carbon emissions from 2028 or face financial penalties. Shipping accounts for nearly three percent of global greenhouse gas emissions, according to the IMO, while the CO2 pricing plan should encourage the sector to use less polluting fuels. The Philippines, which provides the most seafarers of any country, and Caribbean islands focused on the cruise industry would be particularly impacted by visa restrictions and sanctions.

The plan would charge ships for emissions exceeding a certain threshold, with proceeds used to reward low-emission vessels and support countries vulnerable to climate change. Pacific Island states, which abstained in the initial vote over concerns the proposal was not ambitious enough, had been expected to support it this time around. If the global emissions pricing system was adopted, it would become difficult to evade, even for the United States. IMO conventions allow signatories to inspect foreign ships during stopovers and even detain non-compliant vessels.

© 2024 AFP

Tags: carbon emissionsclimate changeshipping
Share8Tweet5Share1Pin2Send
Previous Post

US stocks rise as fears over banks, trade war ease

Next Post

Stocks slide even as fears over banks, trade war ease

Natalie Fisher

Natalie Fisher

Related Posts

Other

US stocks fall as regional bank angst adds to list of worries

October 17, 2025
Other

Thinness is back on catwalks — and the data proves it

October 16, 2025
Other

US Fed chair contender backs October rate cut

October 17, 2025
Other

Stocks higher as traders weigh China-US row, tech earnings

October 16, 2025
Other

Markets mixed as traders weigh China-US row, rate cut hopes

October 16, 2025
Other

Argentine markets cheer new US aid, but Trump threat sparks anger

October 16, 2025
Next Post

Stocks slide even as fears over banks, trade war ease

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

79

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Stocks slide even as fears over banks, trade war ease

October 17, 2025

US sinks international deal on decarbonising ships

October 17, 2025

US stocks rise as fears over banks, trade war ease

October 17, 2025

Mango founder’s son under scrutiny as police probe death

October 17, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.