The formal adoption of a UN agreement to levy CO2 taxes on shipping has been postponed by a year due to disagreements among member states. The vote, initially scheduled for Friday, faced significant opposition, leading to the delay.

The United States has threatened sanctions against countries supporting the CO2 tax, citing concerns about increased costs for citizens, energy suppliers, shipping companies, and tourists. This opposition played a key role in the postponement.

Several oil-producing countries, including the US, have voiced concerns about the economic consequences of the tax. The US stated it would consider visa restrictions and prohibit vessels from supporting countries from docking in the US.

The UN’s maritime organization, IMO, was responsible for holding the negotiations. In April, a decision was made to introduce a global pricing system to limit greenhouse gases, with the CO2 tax being a central part of this agreement.

The CO2 tax is intended to be part of a broader agreement mandating that international shipping achieve climate neutrality by 2050. The agreement stipulates that ships must use fuel with a smaller CO2 footprint from 2028, and exceeding agreed levels would trigger CO2 taxes.

Danish Shipping has expressed strong disappointment with the postponement, calling it a setback for efforts to finalize a crucial climate agreement for international shipping.

The Minister for Industry, Business and Financial Affairs has described the postponement as a setback for the green transition, emphasizing the need for a global agreement as soon as possible.