The European Parliament to start negotiations with member states on acceleration of the decarbonisation in maritime transport
Parliament proposes putting 75% of the revenues generated from auctioning maritime allowances into an Ocean Fund
As requested several times by Parliament, the EU Emissions Trading System (ETS) would now be extended to maritime transport.
Members of European Parliament (MEPs) want to cover 100% of emissions from intra-European routes as of 2024 and 50% of emissions from extra-European routes from and to the EU as of 2024 until the end of 2026. From 2027, emissions from all trips should be covered 100% with possible derogations for non-EU countries where coverage could be reduced to 50% subject to certain conditions. MEPs also want GHG emissions other than CO2 to be included, such as methane nitrous oxides.
Furthermore 75% of the revenues generated from auctioning maritime allowances shall be put into an Ocean Fund to support the transition to an energy efficient and climate resilient EU maritime sector.
"The legislation is yet to be finalised as lawmakers are still to negotiate the final laws with EU countries; however, it seems inevitable that soon the shipping industry will have to consider the cost of carbon, amongst all other things", - experts say according to report by Gibson published today.
