'Climate justice' could hit the shipping industry. Billions are at stake

And considering that sales through traditional channels have not suffered significantly from the growth of e-commerce, it's hardly surprising that traffic on these waters has recovered to an unprecedented degree. In Seville, it was reported, among other things, that the ten largest shipowners in the freight transport sector alone recorded an operating profit of $300 billion between 2019 and 2023, on which they paid approximately 9.7% in real terms in taxes.

Emissions follow this boom. According to the OECD, CO2 emissions from maritime transport increased from 889 to 974 million tons between 2019 and 2024, a roughly 9% increase. The industry organization Transport & Environment estimates that if the maritime shipping market continues to grow at this rate, the industry will be responsible for 10% of global emissions by 2050. And let's consider additional factors: for example, in 2024, the sector's emissions increased more than in previous years due to bottlenecks in the Suez and Panama Canals, which forced the extension of routes.

Shipping Emissions Fee: Money for Developing Countries

These processes are occurring at an exceptional time. In recent years, during the pandemic, many countries around the world have been discussing a windfall tax, and the fee the IMO proposes to introduce is considered such a tax. Furthermore, in recent years, the most heated debate during UN climate summits has been over the concept of a special fund for developing countries that cannot afford to protect themselves and become more resilient to climate change. The idea of using a fee imposed on maritime transport for this purpose seems obvious.

Recall that during last year's Climate Summit in Baku (COP29), it was agreed to triple the funds directed to developing countries, from the current $100 billion annually to $300 billion in 2035. Together with the involvement of money from sources other than governments, the amounts directed to regions in need would reach a total of $1.3 trillion in 2035.