To the relief of some and the dismay of others, late last month President Trump successfully punted a global energy tax down the road, forcing a delay on a vote to adopt an international carbon tax on global shipping. The motion to delay was initiated by Saudi Arabia, with the majority of the member countries in favor of waiting a year.
The International Maritime Organization (IMO), a London-based specialized agency within the United Nations (UN), was hoping to approve the Net Zero Framework (NZF) measure whose main objective was to charge companies for exceeding thresholds of greenhouse gas emissions released by their vessels.
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