International shipping plays a crucial role in the global economy, transporting over 80% of internationally traded goods by volume. However, it also contributes significantly to climate change, accounting for 2 to 3% of global greenhouse gas emissions. To address this, the International Maritime Organisation (IMO) has adopted a revised strategy aiming for net-zero emissions "by or around 2050," with interim targets for 2030 and 2040. The strategy ensures equity by placing a lesser burden on countries with fewer emissions or less capacity to address them. Carbon pricing is proposed as a solutio ..read more

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