No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Friday, June 26, 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
8 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
When will OpenAI go public? Traders bet on Spring of 2027

When will OpenAI go public? Traders bet on Spring of 2027

by TheAdviserMagazine
June 26, 2026
0

Jun 26, 2026, 10:56 AM ETOpenAI (OPENAI) Stock, SH, SPY, QQQ, VOO, DIA, IVV, RSP, SDS, SSO, DOG, QID, DXD,...

edit post
Current price of oil as of June 26, 2026

Current price of oil as of June 26, 2026

by TheAdviserMagazine
June 26, 2026
0

At 9 a.m. Eastern Time today, oil was priced at $73.74 per barrel with Brent serving as the benchmark (we’ll...

edit post
Major Win for Second Amendment Rights

Major Win for Second Amendment Rights

by TheAdviserMagazine
June 26, 2026
0

In what amounts to a significant win for Second Amendment rights, the US Supreme Court voted 6-3 to strike down...

edit post
US stock futures mixed as mega-cap tech drags market sentiment (INDU:) (INDU:) (INDU:)

US stock futures mixed as mega-cap tech drags market sentiment (INDU:) (INDU:) (INDU:)

by TheAdviserMagazine
June 26, 2026
0

Jun 26, 2026, 4:30 AM ETDow Jones Futures (INDU), SPX, US100:INDINCY, MU, ON, BG, AJG, US10Y, US2Y, US30Y, VLTOBy: Nilanjana...

edit post
Everyone agrees that you hate AI, but only Mark Cuban sees why Silicon Valley is powerless to fix it

Everyone agrees that you hate AI, but only Mark Cuban sees why Silicon Valley is powerless to fix it

by TheAdviserMagazine
June 26, 2026
0

On Thursday afternoon, Mark Cuban posted what amounted to an unsolicited intervention for the AI industry. “It’s time for everyone...

edit post
Is your SIP giving FIIs an easy exit? AMFI CEO says mutual funds will actually lure them back

Is your SIP giving FIIs an easy exit? AMFI CEO says mutual funds will actually lure them back

by TheAdviserMagazine
June 25, 2026
0

Foreign investors have pulled over $60 billion out of Indian equities since October 2024, making it tougher for domestic bulls...

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
Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

June 22, 2026
edit post
New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

June 20, 2026
edit post
5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

June 18, 2026
edit post
Florida Roads Become a Battleground for Illegal Immigration

Florida Roads Become a Battleground for Illegal Immigration

June 9, 2026
edit post
Louisiana’s Age-Tiered Homestead Exemption: 8 Details About the Proposed 2028 Amendment

Louisiana’s Age-Tiered Homestead Exemption: 8 Details About the Proposed 2028 Amendment

June 15, 2026
edit post
The 8 States That Still Tax Social Security in 2026

The 8 States That Still Tax Social Security in 2026

June 6, 2026
edit post
When will OpenAI go public? Traders bet on Spring of 2027

When will OpenAI go public? Traders bet on Spring of 2027

0
edit post
Framework Ventures Expands Into AI, Raises 0M Fund

Framework Ventures Expands Into AI, Raises $400M Fund

0
edit post
PH Bingo: Can You Improve Your Chances?

PH Bingo: Can You Improve Your Chances?

0
edit post
Sam’s Links: June Edition – Econlib

Sam’s Links: June Edition – Econlib

0
edit post
Current price of oil as of June 26, 2026

Current price of oil as of June 26, 2026

0
edit post
Small-Business Tax Rates Explained: A 2026 Guide

Small-Business Tax Rates Explained: A 2026 Guide

0
edit post
When will OpenAI go public? Traders bet on Spring of 2027

When will OpenAI go public? Traders bet on Spring of 2027

June 26, 2026
edit post
A 65-year-old programming language called COBOL still quietly runs over  trillion in banking transactions every single day — and because the original engineers are retiring fast, banks are scrambling to pay younger coders fortunes just to keep the ancient code from collapsing

A 65-year-old programming language called COBOL still quietly runs over $3 trillion in banking transactions every single day — and because the original engineers are retiring fast, banks are scrambling to pay younger coders fortunes just to keep the ancient code from collapsing

June 26, 2026
edit post
Framework Ventures Expands Into AI, Raises 0M Fund

Framework Ventures Expands Into AI, Raises $400M Fund

June 26, 2026
edit post
Warsh reaches within the Fed for latest advisory appointments

Warsh reaches within the Fed for latest advisory appointments

June 26, 2026
edit post
Current price of oil as of June 26, 2026

Current price of oil as of June 26, 2026

June 26, 2026
edit post
Nicholas Brain, Jumeirah College

Nicholas Brain, Jumeirah College

June 26, 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

  • When will OpenAI go public? Traders bet on Spring of 2027
  • A 65-year-old programming language called COBOL still quietly runs over $3 trillion in banking transactions every single day — and because the original engineers are retiring fast, banks are scrambling to pay younger coders fortunes just to keep the ancient code from collapsing
  • Framework Ventures Expands Into AI, Raises $400M Fund
  • 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.