MEPC 76/7/12: Marshall Islands and Solomon Islands GHG Levy

MEPC 76/7/12, “Proposal for IMO to establish a universal mandatory greenhouse gas levy”, was submitted by the Marshall Islands and Solomon Islands to MEPC 76 (10 to 17 June 2021). The UNCTAD review in MEPC 80/INF.39/Add.1 summarizes it as an entry level of USD 100 per tonne of CO2 equivalent by 2025 with upward ratchets on a five-yearly review cycle.

The full article will cover the proposal, its revenue design, and its influence on the Tier 1 price of the IMO levy and economic measure .