Member States Approve Revised EU Emissions trading System

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(Image Courtesy: onthemosway.eu)

The revision of the European Union (EU) emissions trading system (ETS), intended to reduce greenhouse gas (GHG) emissions, has received an approval from the Member States.

The development comes two weeks after the European Parliament, the Council of Ministers and the European Commission arrived at a provisional deal to revise the EU ETS, the European Community Shipowners’ Associations (ECSA) said.

“European shipowners have a strong interest to decarbonise the industry and we think it is the right decision that the EU will leave regulation of shipping’s CO2 emissions to the International Maritime Organisation (IMO),” Martin Dorsman, ECSA’s Secretary General said. The IMO is currently busy drawing up its strategy for reducing CO2 emissions from the international shipping, Dorsman added.

The IMO has certain consensual milestones in its plan of global climate strategy. In April 2018, the IMO should adopt an initial strategy for comprehensive emissions reductions from ships and in 2023 it should adopt a final strategy.

In the IMO inter-sessional meeting in October this year, the industry proposed that the sector’s total CO2 emissions should not increase above 2008 levels, thereby establishing 2008 as the year of peak emissions from shipping.

The IMO should agree upon reduction percentage per ton-km as well as upon a reduction percentage by which the total emissions from the sector should be reduced by 2050, was also proposed at the October meeting.

Sea News, November 23