<ul><li>India and 62 other countries on Friday voted in favour of the world's first-ever global carbon tax imposed on the shipping industry by the United Nations' shipping agency.</li><li>Starting 2028, ships will either have to shift to lower-emission fuels or pay a fee for the pollution they generate.</li><li>The tax could generate up to $40 billion by 2030, which will be used exclusively to cut emissions in the shipping industry, not for supporting climate action in developing countries.</li><li>Despite this breakthrough in global climate policy, carbon pricing is expected to reduce shipping emissions by only 10% by 2030, falling short of the IMO's target of at least 20%.</li></ul>

India Supports World's First Global Carbon Tax On Shipping

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