Global negotiations over a landmark shipping carbon levy were left in limbo after opposition from the United States delayed the legal adoption of the International Maritime Organization’s proposed decarbonisation framework. The initiative would introduce a global carbon price on shipping emissions for the first time and forms part of wider efforts to help the sector reach net zero emissions by around 2050. Supporters argue that the framework is critical for accelerating shipping decarbonisation and avoiding fragmented regional climate rules. The Financial Times reports on the news.
Meanwhile, Brazil has enlisted bank managers in its efforts to combat Amazon deforestation by strengthening oversight of agricultural lending and environmental compliance. Financial institutions are being encouraged to monitor whether rural loan applicants are linked to illegal deforestation activity, reflecting growing expectations for banks and investors to manage environmental risks across supply chains and financing activities. Reuters covers the news.
