Diplomats from member countries of the International Maritime Organization (IMO) began a series of negotiations in London on April 17 to detail the taxation of greenhouse gases released by ships. These discussions may trigger economic losses for exporting companies and are expected to be tense.
The IMO stipulated in 2023 the goal of gradually zeroing out emissions from the maritime industry by 2050. By 2030, ships must reduce their emissions by 40% compared to 2008 levels. Currently, most countries agree that this can only be achieved through emissions pricing, but there is no consensus on how the taxation should be implemented.
The main dispute revolves around proposals from Brazil and the European Union. The Europeans want taxation on all polluting gases emitted by vessels, while the Brazilians advocate for charging only emissions exceeding a pre-set target.
The Brazilian government estimates that the European proposal would increase the cost of the country's main export products, contributing to a drop in GDP. This is because the ships serving Brazilian companies tend to travel longer routes to major buyers like China, making them subject to higher taxation.
A study by USP indicated that emerging economies exporting commodities would be most affected by the European proposal, while some developed countries would benefit. Africa, South and Central America, and South and Southeast Asia would be the most negatively impacted continents, with European countries being the only ones favored.
The final decision is expected in April, but this week's meetings are considered crucial for reaching a consensus. These unscheduled meetings, lasting until Friday (21), were prompted by disagreements in previous sessions. A source indicated that these negotiations are the final hurdle.
Brazil has the support of about 20 countries, including China, India, and Indonesia. The European Union, with 27 nations, is supported by small island developing states, which are heavily affected by global warming and are expected to receive part of the revenue from the taxation.