IMO Climate Summit: UN approves carbon pricing regulations for global shipping

The United Nations International Maritime Organisation (IMO) has agreed on an ambitious climate policy aimed at making the global shipping industry more environmentally friendly.

This new policy is part of a larger effort to create a set of legally binding rules designed to cut down on Greenhouse Gas (GHG) emissions from ships worldwide by around the year 2050.

The development was disclosed Friday by the IMO Secretary-General, Arsenio Dominguez, during the closing plenary of the…