World's first global tax in shipping industry is scheduled to start in 2028
Amid growing concerns over climate change, the International Maritime Organization is poised to introduce the world's first global carbon tax on shipping emissions. The AP reports that the International Maritime Organization plans to introduce the fee by 2028, in which nations would pay $100 per ton of carbon dioxide emitted by their vessels if the emissions aren't already accounted for. IMO Secretary-General Arsenio Dominguez praised the consensus, as did Natacha Stamatiou of the Environmental Defense Fund nonprofit, who called the move "a crucial step to reduce climate impacts from shipping." Emma Fenton of the Opportunity Green nonprofit, however, isn't completely on board. "The IMO has made a historic decision, yet ultimately one that fails…