Emission Trading System (EU ETS) Archives

EU ETS Could Create $20B Liability For Shipping!

10 July 2023

Credits: Ian Taylor/ Unsplash

There has been extensive speculation of the cost for shipping from the European Union’s Emissions Trading System which starts to phase in as of 2024. Hecla Emissions Management is out with an analysis suggesting during the first three years, the liability for the shipping industry might reach nearly $20 billion.

Projected Liabilities

The consultancy set up by Wilhelmsen Ship Management and Affinity Shipping to help the shipping industry manage the obligations, used...

https://mfame.guru/eu-ets-could-create-20b-liability-for-shipping/

Vying For Decarbonization In Shipping

4 January 2023

Credits: Venti views/Unsplash

Decarbonisation of the shipping industry is a high-profile current issue.
There are two upcoming IMO measures directed at reducing greenhouse gas emissions from ships.
The two new measures are the Energy Efficiency eXisting ship Index (EEXI), and the Carbon Intensity Indicator (CII).

The IMO’s stated goal is to reduce the carbon intensity of all ships by 40% by 2030 and 70% by 2050 (as against 2008 levels), and EEXI and CII build on existing measures to try and...

https://mfame.guru/vying-for-decarbonization-in-shipping/

EU ETS To Begin Taxing Shipping Emissions From 2024

23 December 2022

Credit: ALEXANDRE LALLEMAND / unsplash

The European Council and the European Parliament reached a provisional political agreement on important legislative proposals of the ‘Fit for 55’ package, including the EU ETS maritime policy that will further reduce emissions and address their social impacts. The deal is provisional pending formal adoption in both institutions.

EU ETS Maritime

The Council and Parliament agreed to include maritime shipping emissions within the scope of the EU ETS. They agreed...

https://mfame.guru/eu-ets-to-begin-taxing-shipping-emissions-from-2024/

ESPO Spells Out Framework For Success Of EU ETS

7 December 2022

Credit: John Simmons/ Unsplash

The European Sea Ports Organization (ESPO) says in order for the EU Emission Trading System (EU ETS) to be a success, measures against carbon and business leakage as well as the earmarking of funds for maritime must be strictly applied.

Preliminary Agreement

A preliminary agreement was reached amongst co-legislators on the inclusion of shipping in a maritime EU ETS at the end of November. ESPO has called on the European Parliament and Member States in Council to...

https://mfame.guru/espo-spells-out-framework-for-success-of-eu-ets/

European Union and 2030 Climate Target for Shipping

6 June 2021

The European Commission announces an increased climate target for 2030.
It aims at extending the EU’s Emission Trading System (EU ETS) to the shipping sector.
ECSA is publishing a joint study with the International Chamber of Shipping (ICS) concerning emissions and alternative market based measures.

A recent news article published in the ECSA says that ECSA publishes study on implications of EU ETS for shipping.

Emission Trading System (EU ETS)

Emission Trading System (EU ETS) to the shipping...

https://mfame.guru/european-union-and-2030-climate-target-for-shipping/