Ralph Regenvanu is Vanuatu’s Special Envoy for Climate Change and Environment.
There are less than two months left for governments to deliver likely one the biggest climate deals of the year: the world’s first universal emission price on a globally polluting sector – the international shipping industry.
In 2023, the 176 member states at the UN’s maritime regulator, the International Maritime Organization (IMO), agreed on a historic target to transition shipping to zero emissions by 2050, in a way that is fair and equitable.
Pricing the sector’s one billion tonnes of annual emissions – around 3% of all global emissions – is the best way to deliver this critical commitment, while supporting the most climate-vulnerable countries, such as mine, in the process. The IMO meets again for interim discussions on February 17-21, with the goal of finalising this important policy in April this year, so that it can take effect in 2027.
Just this January we saw a fresh wave of support for the future carbon price to be in the form of a levy, led by 49 countries across the Pacific, Africa, Europe, the Caribbean and Asia, which only reaffirms the growing political momentum behind this evidence-based policy for shipping.
With most of the world’s biggest shipping powers, like Panama, Liberia, Greece and Japan, now firmly on board for a levy, the IMO has what it needs to make it a success. The next, crucial step from now until April is making sure that the design of the future policy – the price, scope and revenue distribution – is ambitious and fit for purpose.
Support grows for global tax on shipping emissions to fund climate action
A carbon levy would incentivise the clean energy transition in the shipping industry and provide the funding needed for it to be equitable. The World Bank estimates that around $60 billion could be generated a year, based on a price of $100 per tonne of CO2e (carbon dioxide equivalent). It would be more with the $150 levy we advocate for.
Adopting such a levy means the IMO can succeed where decades of COP meetings have failed: translating realistic ambitions into binding measures.
Last year gave us a terrifying preview of climate change-driven disruptions and destruction around the world, but especially in countries that already face the highest costs and burden of climate change. The IMO levy revenue could not come at a better time to help alleviate this pressure, provided that it is distributed strategically.
Global South countries, and particularly the most remote and climate vulnerable, could finance new technology and renewable energy production, as well as improve resilience to the climate change caused in no small part by international shipping. Many of these countries, especially in Africa and Latin America, have immense renewable energy potential, which could supply the future zero-emission energy for shipping while also addressing domestic clean electricity needs.
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The world’s leading economists are clear that the clean transition in shipping will cost money no matter what, but that a levy is the best way to keep these costs as low as possible. Research commissioned by the IMO to assess the impact of measures proposed by member states draws the same conclusions.
If we don’t act now, we will face a much higher bill down the line. Some estimate that climate inaction could cost around $38 trillion in 2049, a bill that the Global South cannot – and should not – pick up.
The science is clear, and our proposals are detailed and mature. The stage is set for countries to restore hope and faith in multilateralism, global cooperation and climate action. Our countries have the political will to deliver. All eyes on the IMO now.
The post A strong carbon tax on shipping can give hope to climate-vulnerable communities appeared first on Climate Home News.
A strong carbon tax on shipping can give hope to climate-vulnerable communities
Climate Change
Hurricane Helene Is Headed for Georgians’ Electric Bills
A new storm recovery charge could soon hit Georgia Power customers’ bills, as climate change drives more destructive weather across the state.
Hurricane Helene may be long over, but its costs are poised to land on Georgians’ electricity bills. After the storm killed 37 people in Georgia and caused billions in damage in September 2024, Georgia Power is seeking permission from state regulators to pass recovery costs on to customers.
Climate Change
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Gov. Mikie Sherrill says she supports both AI and lowering her constituents’ bills.
With New Jersey’s cost-of-living “crisis” at the center of Gov. Mikie Sherrill’s agenda, her administration has inherited a program that approved a $250 million tax break for an artificial intelligence data center.
Amid Affordability Crisis, New Jersey Hands $250 Million Tax Break to Data Center
Climate Change
Curbing methane is the fastest way to slow warming – but we’re off the pace
Gabrielle Dreyfus is chief scientist at the Institute for Governance and Sustainable Development, Thomas Röckmann is a professor of atmospheric physics and chemistry at Utrecht University, and Lena Höglund Isaksson is a senior research scholar at the International Institute for Applied Systems Analysis.
This March scientists and policy makers will gather near the site in Italy where methane was first identified 250 years ago to share the latest science on methane and the policy and technology steps needed to rapidly cut methane emissions. The timing is apt.
As new tools transform our understanding of methane emissions and their sources, the evidence they reveal points to a single conclusion: Human-caused methane emissions are still rising, and global action remains far too slow.
This is the central finding of the latest Global Methane Status Report. Four years into the Global Methane Pledge, which aims for a 30% cut in global emissions by 2030, the good news is that the pledge has increased mitigation ambition under national plans, which, if fully implemented, could result in the largest and most sustained decline in methane emissions since the Industrial Revolution.
The bad news is this is still short of the 30% target. The decisive question is whether governments will move quickly enough to turn that bend into the steep decline required to pump the brake on global warming.
What the data really show
Assessing progress requires comparing three benchmarks: the level of emissions today relative to 2020, the trajectory projected in 2021 before methane received significant policy focus, and the level required by 2030 to meet the pledge.
The latest data show that global methane emissions in 2025 are higher than in 2020 but not as high as previously expected. In 2021, emissions were projected to rise by about 9% between 2020 and 2030. Updated analysis places that increase closer to 5%. This change is driven by factors such as slower than expected growth in unconventional gas production between 2020 and 2024 and lower than expected waste emissions in several regions.
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This updated trajectory still does not deliver the reductions required, but it does indicate that the curve is beginning to bend. More importantly, the commitments already outlined in countries’ Nationally Determined Contributions and Methane Action Plans would, if fully implemented, produce an 8% reduction in global methane emissions between 2020 and 2030. This would turn the current increase into a sustained decline. While still insufficient to reach the Global Methane Pledge target of a 30% cut, it would represent historical progress.
Solutions are known and ready
Scientific assessments consistently show that the technical potential to meet the pledge exists. The gap lies not in technology, but in implementation.
The energy sector accounts for approximately 70% of total technical methane reduction potential between 2020 and 2030. Proven measures include recovering associated petroleum gas in oil production, regular leak detection and repair across oil and gas supply chains, and installing ventilation air oxidation technologies in underground coal mines. Many of these options are low cost or profitable. Yet current commitments would achieve only one third of the maximum technically feasible reductions in this sector.
Recent COP hosts Brazil and Azerbaijan linked to “super-emitting” methane plumes
Agriculture and waste also provide opportunities. Rice emissions can be reduced through improved water management, low-emission hybrids and soil amendments. While innovations in technology and practices hold promise in the longer term, near-term potential in livestock is more constrained and trends in global diets may counteract gains.
Waste sector emissions had been expected to increase more rapidly, but improvements in waste management in several regions over the past two decades have moderated this rise. Long-term mitigation in this sector requires immediate investment in improved landfills and circular waste systems, as emissions from waste already deposited will persist in the short term.
New measurement tools
Methane monitoring capacity has expanded significantly. Satellite-based systems can now identify methane super-emitters. Ground-based sensors are becoming more accessible and can provide real-time data. These developments improve national inventories and can strengthen accountability.
However, policy action does not need to wait for perfect measurement. Current scientific understanding of source magnitudes and mitigation effectiveness is sufficient to achieve a 30% reduction between 2020 and 2030. Many of the largest reductions in oil, gas and coal can be delivered through binding technology standards that do not require high precision quantification of emissions.
The decisive years ahead
The next 2 years will be critical for determining whether existing commitments translate into emissions reductions consistent with the Global Methane Pledge.
Governments should prioritise adoption of an effective international methane performance standard for oil and gas, including through the EU Methane Regulation, and expand the reach of such standards through voluntary buyers’ clubs. National and regional authorities should introduce binding technology standards for oil, gas and coal to ensure that voluntary agreements are backed by legal requirements.
One approach to promoting better progress on methane is to develop a binding methane agreement, starting with the oil and gas sector, as suggested by Barbados’ PM Mia Mottley and other leaders. Countries must also address the deeper challenge of political and economic dependence on fossil fuels, which continues to slow progress. Without a dual strategy of reducing methane and deep decarbonisation, it will not be possible to meet the Paris Agreement objectives.
Mottley’s “legally binding” methane pact faces barriers, but smaller steps possible
The next four years will determine whether available technologies, scientific evidence and political leadership align to deliver a rapid transition toward near-zero methane energy systems, holistic and equity-based lower emission agricultural systems and circular waste management strategies that eliminate methane release. These years will also determine whether the world captures the near-term climate benefits of methane abatement or locks in higher long-term costs and risks.
The Global Methane Status Report shows that the world is beginning to change course. Delivering the sharper downward trajectory now required is a test of political will. As scientists, we have laid out the evidence. Leaders must now act on it.
The post Curbing methane is the fastest way to slow warming – but we’re off the pace appeared first on Climate Home News.
Curbing methane is the fastest way to slow warming – but we’re off the pace
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