In view of the next crucial meeting of the Intersessional Working Group on Reduction of Greenhouse Gas (GHG) Emissions from Ships (ISWG-GHG) of the International Maritime Organization (IMO), which will be held from 17 to 21 February, 47 governments, the European Commission and the International Shipowners' Association International Chamber of Shipping (ICS) have defined a proposal to introduce amendments to the MARPOL Convention for the prevention of pollution from ships, which involves the establishment by the IMO of the IMO GHG Strategy fund Implementation Fund which would have the task, among others, of administer the gas emissions pricing mechanism greenhouse produced by the maritime sector based on the annual contribution of ships per tonne of greenhouse gases emitted.

The ICS explained that if the relevant regulations were to be approved next April by the IMO Member States, the Greenhouse gas emission pricing mechanism shipping could come into force at the beginning of 2027. From that date the shipping companies operating voyages international institutions would have to pay a fee for tonne of CO2 equivalent emitted to the new IMO fund, a tax that - according to the promoters of the proposal - will aim to reduce the cost gap between green marine fuels to zero or almost zero greenhouse gas emissions and marine fuels Conventional. In particular, the sums thus collected should be used to reward the production and use of green marine fuels and to support reduction efforts of greenhouse gases produced by the maritime sector by countries in developing process. The collection of this annual tax would take place at starting from 2028.

The size of the tax, however, has not yet been agreed, but expected to be between $60 and $300 per tonne of marine fuel oil consumed, a range that depends on the compensation fee that will be agreed for the use of green fuels and the amount of proceeds that will have to be be allocated annually to support developing nations development.

"The joint text proposed by this broad coalition - underlined the Secretary General of the ICS, Guy Platten - is a pragmatic solution and the most effective way to incentivise a rapid energy transition in shipping in order to to achieve the IMO's agreed target of net emissions equal to zero by or around 2050. We are very pleased that a group so large and diverse nations now firmly support a common approach to maritime carbon taxation. This proposed joint text was hard fought and - highlighted Platten - is largely based on ideas that the ICS has sustained in the last ten years".

Currently, the proposal is supported by the governments of Austria, Bahamas, Belgium, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Fiji, Finland, France, Georgia, Germany, Greece, Ireland, Marshall Islands, Solomon Islands, Italy, Jamaica, Japan, Kenya, Latvia, Liberia, Lithuania, Luxembourg, Malta, Montenegro, Nigeria, Netherlands, Palau, Panama, Poland, Portugal, United Kingdom United Kingdom, Czech Republic, Republic of Korea, Romania, Slovakia, Slovenia, Spain, Sweden, Seychelles, Tonga, Tuvalu, Ukraine, Hungary and Vanuatu as well as by the European Commission and by the International Chamber of Shipping.