Cruise ships to pay for carbon emissions under new global rules

22-04-25

In an unprecedented milestone for the maritime industry, the International Maritime Organisation (IMO) has approved a global agreement that will force cruise and cargo ship owners to pay for their carbon emissions. The pact, reached in London in April 2025, establishes a tariff system that penalises greenhouse gas emissions, making shipping the first sector to adopt a global financial mechanism to combat climate change.

From 2027, ships above certain emissions thresholds will have to pay up to $380 per tonne of CO₂ emitted unless they significantly reduce their environmental footprint. The aim is to incentivise the transition to cleaner fuels and sustainable technologies, with the goal of achieving net zero emissions in the sector by 2050.

The agreement, backed by 108 countries representing 97% of the world's merchant fleet, also includes a marine fuel standard that will require a progressive reduction in the carbon intensity of the fuels used. These measures are expected to generate between $11 billion and $13 billion annually, funds that will go into an IMO fund to support innovation in clean technologies and assist developing countries in their energy transition.