{"id":15702,"date":"2025-04-16T07:08:54","date_gmt":"2025-04-16T07:08:54","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=15702"},"modified":"2025-04-16T07:10:25","modified_gmt":"2025-04-16T07:10:25","slug":"india-backs-shipping-carbon-tax","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/india-backs-shipping-carbon-tax\/","title":{"rendered":"India Backs Shipping Carbon Tax"},"content":{"rendered":"<ul>\n<li>\n<p><strong>India&#8217;s Support:<\/strong> India, along with 62 other nations, voted in favor of the first global carbon tax on the shipping industry, as decided at the International Maritime Organisation (IMO).<\/p>\n<\/li>\n<li>\n<p><strong>Goal:<\/strong> Aims to cut greenhouse gas emissions from ships and promote cleaner technologies, taking effect in 2028.<\/p>\n<\/li>\n<li>\n<p><strong>Tax Framework:<\/strong> Ships over 5,000 gross tonnage must use cleaner fuels or pay a tax ($100-$380 per tonne of CO\u2082) based on emissions.<\/p>\n<\/li>\n<li>\n<p><strong>Revenue Generation:<\/strong> Expected to generate up to $40 billion by 2030 for reinvestment in maritime decarbonization.<\/p>\n<\/li>\n<li>\n<p><strong>Shipping&#8217;s Impact:<\/strong> The shipping industry contributes ~3% of <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> global greenhouse gas emissions and wasn&#8217;t included in agreements like the Paris Agreement.<\/p>\n<\/li>\n<li>\n<p><strong>India&#8217;s Shipping Growth:<\/strong> India aims to be a top 5 shipbuilding nation by 2047 with its fleet growing to 1,530 ships by 2023, and is third in ship recycling. Major ports have increased cargo capacity.<\/p>\n<\/li>\n<li>\n<p><strong>Criticism:<\/strong> The deal has faced criticism for failing to address the climate finance needs of developing countries, revenue is allocated for only maritime sector decarbonization and also carbon pricing is expected to reduce shipping emissions by only <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> 10% by 2030, far short of the IMO&#8217;s own target of at least 20%.<\/p>\n<\/li>\n<li>\n<p><strong>Opposition:<\/strong> Oil-rich nations like Saudi Arabia, the UAE, Russia, and Venezuela opposed the tax.<\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s Support: India, along with 62 other nations, voted in favor of the first global carbon tax on the shipping industry, as decided at the International Maritime Organisation (IMO). Goal: Aims to cut greenhouse gas emissions from ships and promote cleaner technologies, taking Subscribe on YouTube effect in 2028. Tax Framework: Ships over 5,000 gross &#8230; <a title=\"India Backs Shipping Carbon Tax\" class=\"read-more\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/india-backs-shipping-carbon-tax\/\">Read more <span class=\"screen-reader-text\">India Backs Shipping Carbon Tax<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":15729,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[595],"tags":[1277],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>India Backs Shipping Carbon Tax - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/india-backs-shipping-carbon-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India Backs Shipping Carbon Tax\" \/>\n<meta property=\"og:description\" content=\"India&#8217;s Support: India, along with 62 other nations, voted in favor of the first global carbon tax on the shipping industry, as decided at the International Maritime Organisation (IMO). 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