Shipping Prepares for 'Polluter Pays' in EU ETS

Shipping Prepares for 'Polluter Pays' in EU ETS

By In Industry News On 24th November 2023

With the EU’s Emissions Trading System (ETS) set to become law in just over a month, the shipping sector is grappling with the implementation of the 'polluter pays' principle.

During a recent conference in London, organised by the maritime emissions data platform OceanScore, Albrecht Grell, the Managing Director, addressed persistent questions concerning the ‘polluters pays’ aspect of the EU ETS, emphasising the need for resolution by ship owners and operators.

The key queries revolve around EU Allowances (EUAs), a type of carbon allowance that grants companies under the EU ETS permission to emit a specific amount of CO2. These allowances are traded on the market, and their fluctuating prices reflect the costs associated with emission reduction.

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