Bangladesh, May 11 -- In October 2026, the International Maritime Organization (International Maritime Organization) is expected to revisit one of the most consequential climate-linked trade proposals in modern history: a global pricing mechanism on shipping emissions that critics describe as a de facto international carbon tax on maritime trade.

The proposal, which was narrowly postponed in a previous round of negotiations, would place a financial penalty on vessels exceeding defined CO₂ emissions thresholds, with rates reportedly ranging from roughly $100 to $380 per metric ton of excess emissions. Proponents argue it is a necessary step to align global shipping with net-zero goals. Opponents argue it is an unaccountable wealth-t...