US and Saudi Arabia derail landmark shipping carbon-tax — what it means
US and Saudi Arabia derail landmark shipping carbon-tax — what it means Negotiations on a landmark global carbon-tax for shipping were effectively derailed after representatives from the US and Saudi Arabia backed a motion to adjourn talks for a year. The measure — which had been set to make shipping the first industry with internationally mandated emissions rules — will now require timelines and terms to be renegotiated. The plan, the product of nearly a decade of talks and support from more than 100 countries, would have forced ship owners to switch to cleaner fuels from 2028 or face fines. Industry groups welcomed the clarity the deal promised, but the adjournment leaves major questions about enforcement, investment timelines and emissions trajectories. Key points: The US reportedly pressured countries to vote…
