No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Tuesday, February 3, 2026
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

US sinks international deal on decarbonising ships

by TheAdviserMagazine
4 months ago
in Business
Reading Time: 3 mins read
A A
US sinks international deal on decarbonising ships
Share on FacebookShare on TwitterShare on LInkedIn


An international vote to formally approve cutting maritime emissions was delayed by a year 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.

But a vote on whether to formally approve the deal was cancelled on Friday until next year after US President Donald Trump threatened sanctions against countries backing the plan.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.

Live Events

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 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 Friday that he hoped there would be no repeat of how the week’s discussions had gone.

“It doesn’t help your organisation, it doesn’t help yourself,” he told delegates.

Trump ‘outraged’

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 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.



Source link

Tags: dealdecarbonisingInternationalshipsSinks
ShareTweetShare
Previous Post

How $218B pension bill makes BTC a state asset this time

Next Post

Is Peace With Russia Possible?

Related Posts

edit post
Why President Trump’s latest crypto scandal could spell disaster for the blockchain industry

Why President Trump’s latest crypto scandal could spell disaster for the blockchain industry

by TheAdviserMagazine
February 3, 2026
0

Just over a year ago, I stood in a gilded Washington, D.C. ballroom during inauguration weekend, surrounded by the blockchain...

edit post
Snowflake announces 0m partnership with OpenAI for enterprise AI

Snowflake announces $200m partnership with OpenAI for enterprise AI

by TheAdviserMagazine
February 3, 2026
0

Snowflake has entered into a $200m partnership with OpenAI to integrate the latter’s artificial intelligence (AI) models into Snowflake’s enterprise...

edit post
Israeli institutions’ currency exposure falls under 20%

Israeli institutions’ currency exposure falls under 20%

by TheAdviserMagazine
February 3, 2026
0

Israeli financial institutions are gradually reducing their foreign currency exposure. The latest figures show that the exposure level is...

edit post
Eternal shares soar 9% as Jefferies adds stock to India model portfolio, labels it ‘FPI favourite’. Here’s why

Eternal shares soar 9% as Jefferies adds stock to India model portfolio, labels it ‘FPI favourite’. Here’s why

by TheAdviserMagazine
February 3, 2026
0

Shares of food delivery and quick-commerce major Eternal rose as much as 9.3%, hitting a day’s high of Rs 298.50...

edit post
Solar energy boom gains momentum as huge projects progress

Solar energy boom gains momentum as huge projects progress

by TheAdviserMagazine
February 3, 2026
0

Major steps were taken yesterday as two huge solar energy projects moved forward towards the production stage. In Israel,...

edit post
FPI investments in primary market nearly halve in FY26

FPI investments in primary market nearly halve in FY26

by TheAdviserMagazine
February 2, 2026
0

ET Intelligence Group: Though foreign portfolio investors (FPIs) intensified their selling in the Indian secondary equity market in the two...

Next Post
edit post
Is Peace With Russia Possible?

Is Peace With Russia Possible?

edit post
Thank you to our Disrupt 2025 sponsors

Thank you to our Disrupt 2025 sponsors

  • Trending
  • Comments
  • Latest
edit post
Most People Buy Mansions But This Virginia Lottery Winner Took the Lump Sum From a 8 Million Jackpot and Bought a Zero-Turn Lawn Mower Instead

Most People Buy Mansions But This Virginia Lottery Winner Took the Lump Sum From a $348 Million Jackpot and Bought a Zero-Turn Lawn Mower Instead

January 10, 2026
edit post
Utility Shutoff Policies Are Changing in Several Midwestern States

Utility Shutoff Policies Are Changing in Several Midwestern States

January 9, 2026
edit post
Tennessee theater professor reinstated, with 0,000 settlement, after losing his job over a Charlie Kirk-related social media post

Tennessee theater professor reinstated, with $500,000 settlement, after losing his job over a Charlie Kirk-related social media post

January 8, 2026
edit post
80-year-old Home Depot rival shuts down location, no bankruptcy

80-year-old Home Depot rival shuts down location, no bankruptcy

January 4, 2026
edit post
Florida Snowbirds Are Running Into Residency Documentation Problems

Florida Snowbirds Are Running Into Residency Documentation Problems

January 10, 2026
edit post
I run one of America’s most successful remote work programs and the critics are right. Their solutions are all wrong, though

I run one of America’s most successful remote work programs and the critics are right. Their solutions are all wrong, though

January 11, 2026
edit post
Episode 246. “We’re drowning in debt, but bought another house”

Episode 246. “We’re drowning in debt, but bought another house”

0
edit post
How LLMs Can Quietly Classify and Organize Your Business Data

How LLMs Can Quietly Classify and Organize Your Business Data

0
edit post
7 Deeply Oversold Stocks Entering February With Rebound Potential

7 Deeply Oversold Stocks Entering February With Rebound Potential

0
edit post
Taxes and Flow-Through Entities in Divorce – Houston Tax Attorneys

Taxes and Flow-Through Entities in Divorce – Houston Tax Attorneys

0
edit post
Why President Trump’s latest crypto scandal could spell disaster for the blockchain industry

Why President Trump’s latest crypto scandal could spell disaster for the blockchain industry

0
edit post
How a Printed Compliance File Can Help You Win New Business

How a Printed Compliance File Can Help You Win New Business

0
edit post
Why President Trump’s latest crypto scandal could spell disaster for the blockchain industry

Why President Trump’s latest crypto scandal could spell disaster for the blockchain industry

February 3, 2026
edit post
Episode 246. “We’re drowning in debt, but bought another house”

Episode 246. “We’re drowning in debt, but bought another house”

February 3, 2026
edit post
7 Deeply Oversold Stocks Entering February With Rebound Potential

7 Deeply Oversold Stocks Entering February With Rebound Potential

February 3, 2026
edit post
7 Family Money Requests That Create Long-Term Strain

7 Family Money Requests That Create Long-Term Strain

February 3, 2026
edit post
Top takeaways for college presidents from AAC&U’s conference

Top takeaways for college presidents from AAC&U’s conference

February 3, 2026
edit post
Snowflake announces 0m partnership with OpenAI for enterprise AI

Snowflake announces $200m partnership with OpenAI for enterprise AI

February 3, 2026
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Why President Trump’s latest crypto scandal could spell disaster for the blockchain industry
  • Episode 246. “We’re drowning in debt, but bought another house”
  • 7 Deeply Oversold Stocks Entering February With Rebound Potential
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.