European Parliament. File Image / Pixabay.
The European Parliament has said that market-based emissions are not enough to reduce maritime emisisons.
Members of the European Parliament (MEPS) want to see shipping companies cut their annual average carbon dioxide (CO2) emissions per transport unit for all their ships by at least 40% by 2030, Euronews has reported.
The representatives also envisage setting up an 'Ocean Fund' to run from 2022 to 2030 to support investment in alternative bunker fuels and similar CO2-constraining technologies. The fund could be financed from the operation of the European Union (EU) emissions trading system, according to the MEPs.
The European parliament voted in favour aligning the EU system for monitoring, reporting and verifying CO2 emissions with that of the International Maritime Organisation.
Ship & Bunker reported earlier this week that only intra-European shipping may be included in the bloc's emissions trading system.
But the amendments from MEP Jutta Paulus adopted by the parliament indicate a desire to beyond what is being proposed by the commission.
"Monitoring and reporting CO2 emissions is important, but statistics alone do not save a single gram of greenhouse gas! That's why we are going further than the Commission proposal and demanding tougher measures to reduce emissions from maritime shipping," Paulus was quoted as saying.