Countries agree on the first ever binding targets for global shipping emissions!
The International Maritime Organization has secured agreement on mandatory emissions targets requiring shipping (responsible for around 3% of global emissions) to reach net-zero by 2050.
Starting in 2028, ships that exceed emissions thresholds will face financial penalties up to $380 per ton of CO₂.
This is a big deal - it sends a market-wide signal that efficiency pays, and unlocks an estimated $40 billion in annual carbon revenues, one of the largest pools of climate finance ever created. #shipping #climate #environment #ClimateChange #pollution #decarbonization