The European Parliament and the EU Member States have reached an agreement regarding the EU’s Emissions Trading System. According to this agreement, shipping will be excluded and IMO will have the responsibility, Danish Shipping notes.
Emissions Trading System
Following long discussions and negotiations, the EU yesterday concluded with a decision to revise the EU ETS after 2020, giving time to the shipping industry to realize its initial CO2 reduction objectives by 2018, according to IMO’s Roadmap.
The European Parliament and the EU Member States still have not reached an agreement regarding the EU’s Emissions Trading System. European shipping is therefore still in danger of being subject to one-side EU regulation rather than supporting the global process, Danish Shipping suggests.
Following the decision of the United States to withdraw from the Paris Climate Agreement, the European Community Shipowners’ Associations and the International Chamber of Shipping encourage the intention of the European Union and the People’s Republic of China to intensify cooperation in achieving a global climate deal for shipping.
CEOs representing a wide part of European steel industry co-signed a letter addressed to the governments of all EU member states, calling on political leaders to “help preserve a sustainable and globally competitive European steel industry”, EUROFER informed. The letter highlights the specific costs of the EU Emissions Trading System reform, as it exists today.
Following the vote of the European Parliament to include shipping in the Emission Trading Scheme of the European Union, Hapag-Lloyd has commented that this poses a huge problem in the industry, as it could significantly change it.
MEPs’ proposal to include shipping in the EU ETS from 2023, if the IMO fails to agree a global measure to reduce shipping emissions, should be a wake-up call for the UN agency, a senior European Commission official said.
This animation video, produced by the European Parliament, explains how the EU’s Emissions Trading System works with the aim to discourage industries from emitting CO2 by making it cheaper to go green. However, due to the financial crisis, some modification have been made.
Dr. Edmund Hughes, Head of Air Pollution and Energy Efficiency, Marine Environment Division of International Maritime Organization (IMO), talks about IMO’s efforts to combat GHG emissions from shipping, highlighting that industry needs to continue to support the Organization in formulating global regulations towards a more sustainable future.
EU environment ministers have reached an agreement in support of the revision of the ETS Directive for the period after 2020. This agreement comes after almost two years of discussions in the Council, led since the start of this year by the Maltese presidency.
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