- The International Maritime Organisation delayed the adoption of a binding Net Zero Framework for the shipping sector in October 2025. However, in April 2026, negotiations continued with a reconvened session scheduled for December 2026. The framework would impose mandatory emissions limits and greenhouse gas pricing on most of the world’s shipping fleets.
- In February 2026, the OECD published an updated carbon pricing and energy taxation database. The report provides comparable data and insights into how 79 countries, accounting for 82% of global greenhouse gas emissions, use carbon taxes, emission trading systems and fuel excise taxes.
- In February 2026, the European Commission published the Clean Industrial Deal, outlining a plan for decarbonisation within the EU to drive industrial growth. The deal includes measures to boost demand for green technology, finance the green transition and accelerate the transition to clean energy.
- Governments are recalibrating tax incentives for electric vehicles as the sector matures. Germany extended an exemption of motor vehicle tax for EVs until 2035, while Norway will phase out its VAT exemptions. The UK is consulting on the introduction of EV excise duty, which will come into effect in April 2028.
- COP30 took place in November 2025. The outcomes of the conference included the establishment of a coalition on carbon pricing and carbon markets to further their development and an endorsement for solidarity levies targeting high-emitting, undertaxed sectors (e.g. aviation).
- At the World Trade Organisation’s (WTO) 14th Ministerial Conference, 79 WTO Members participating in the Trade and Environmental Sustainability Structured Discussions (TESSD) published a package including work on trade-related climate measures and subsidies.
- In 2026, the OECD released an updated Climate Club Financial Toolkit, providing guidance on how governments and financial institutions can decarbonise through mobilising capital for decarbonisation in hard-to-abate sectors such as steel, cement and petrochemicals.
- Timing: this is a continuing area of development affecting many countries, so there is no specific timeframe for changes.
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