EUROPEAN INDUSTRY CALLS FOR EARMARKING OF SHIPPING ETS REVENUES

Nov 21, 2022 | Maritime business news

As negotiations on the inclusion of shipping in the EU Emission Trading Scheme (ETS) enter the final stretch, European shipowners, ports and port operators, the cruise and ferry sector, shipyards and equipment manufacturers, fuel suppliers, shippers and forwarders have reiterated their call to regulators to earmark ETS revenues from shipping back to the maritime sector.

The Association of European Community Shipowners (ECSA) has issued a call to the maritime industry to urge regulators to introduce mandatory calls dedicated to the maritime sector in the Innovation Fund and to finance these calls through the revenues generated from ETS shipping allowances.

In order to contribute effectively to the decarbonisation of the sector, such calls should be based on specific criteria designed for shipping projects, fit to address the characteristics of the shipping industry. The earmarking of revenues through a framework that is fit for purpose is essential to reach the ambitious targets set by the European Green Deal and Fit-for-55 package.

Sotiris Raptis, ECSA Secretary General, said: “The maritime industry from shipowners, ports, fuel suppliers, users, ship managers, engine manufacturers and yards has joined forces once again to call upon the European Parliament and the Council to support the energy transition of the sector. We urge the Parliament and the Council to earmark the ETS revenues from shipping under dedicated calls in the Innovation Fund. Earmarking will provide essential support to the maritime sector as it strives to decarbonise. Bridging the price gap between clean and conventional fuels and funding innovation and deployment of clean energy technology will be critical for the decarbonisation of shipping.”

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