EU Moves Closer to Regulating CO2 from Shipping

On Tuesday, the European Parliament’s environmental committee approved a measure to include shipping’s carbon emissions within the EU Emissions Trading System (ETS), the EU’s carbon credit market. The move would modify the EU’s existing Monitoring, Reporting and Verification (MRV) regulation for data collection on ship CO2 emissions in order to subject these emissions to ETS cap-and-trade requirements. The European Parliament’s overall objective is to achieve full carbon neutrality by 2050 – a much more ambitious goal than the IMO’s target of halving CO2 from shipping by midcentury.

The proposed amendment would impose ETS coverage and MRV reporting requirements for methane in addition to CO2, an important consideration for LNG-powered vessels. It also sets an efficiency target of 40 percent less CO2 per tonne-mile by 2030…

View entirety: Maritime Executive