India supports global shipping carbon tax

India has joined 62 other nations in supporting a global carbon tax on the shipping industry, a first-of-its-kind measure expected to raise $40 billion by 2030. The tax, approved by the UN's International Maritime Organisation, aims to curb emissions and fund decarbonization efforts within the shipping sector, starting in 2028. Ships will be taxed based on their emissions, incentivizing the use of cleaner fuels. While hailed as a climate milestone, the tax faces criticism for potentially limited impact and a lack of support for developing nations, with final details on revenue use still pending.