Sunday, April 13

The International Maritime Organization (IMO) have officially agreed on a new rule that will force shipping companies to pay fees for the amount of carbon dioxide they emit into the atmosphere, which is a significant step forward in the fight against greenhouse gases and climate change.

The International Maritime Organization (IMO) regulates global shipping and establishes rules in international waters, focusing on safety, security, and environmental protection. Part of their efforts towards environmental protection included a pledge to reach net-zero carbon emissions by 2050, which heavily involved the usage of clean energy aboard ships. Another pledge made in 2023 involved reducing shipping emissions by at least 20% by 2030.

Today, shipping is responsible around 2-3% of the world's total greenhouse gas emissions, a significant number when compared to other sources. Ships use primarily fossil fuels to move themselves across oceans, releasing large amounts of greenhouse gases like carbon dioxide. While alternatives like hydrogen and methanol are available, they are not mainstream, and not many shipping companies have taken the initiative to switch to these greener fuels.

Initially, in order to meet these goals, a carbon tax was suggested on shipping around the world. The revenue from the tax, which was projected to be around $60 billion per year, would go towards helping poorer countries fight climate change. The tax would also motivate shipping companies to move towards greener fuels, which would help the environment. However, the idea was heavily opposed by wealthier countries, who would not benefit from the plan, and it was eventually scrapped.

Instead, the IMO has agreed on a new, much more simplified version of the original plan that has been met with mixed reactions. The updated idea will only raise around $10 billion per year, and the proceeds will go to shipping companies to help them research technologies for clean energy. It will also allow ships to trade carbon credits, building a trade network that will allow companies to collectively work together to bring down their emissions.

While the deal is a significant step forward, as it will motivate shipping companies to shift towards greener fuels, it has also been heavily criticized. The new plan does not help poorer countries like the older one did, and it will only reduce shipping emissions by 8% by 2030-- achieving under half of the IMO's pledge and nowhere close to their net-zero pledge by 2050.

Small island nations like Tuvalu and Vanuatu have expressed their opinions that the deal should be considered a disappointment, and they maintain the view that they have been failed by wealthier nations who are simply aiming to continue profiting off of oil and gas. They have placed the blame for climate change squarely on the shoulders of countries opposing these deals, like the US and Saudi Arabia, and unfortunately, the situation is only getting worse.

Fact of the Day (Today): The largest bowling alley in the world is at Inawaza Grand Bowl outside of Nagoya, Japan, which has 116 lanes in a row on the same floor.

Quote of the Day (Gracious Quotes): No man ever steps in the same river twice, for it’s not the same river and he’s not the same man. (Heraclitus)

Word of the Day (Merriam-Webster): Gustatory (adj, GUSS-tuh-tor-ee) - Gustatory describes things that are related to or associated with eating or the sense of taste.

In a Sentence: The deli has been widely praised for its astonishing variety of gustatory delights.