EMEA News
EU: Shipping's Inclusion in ETS Becomes Law
Shipping's inclusion in the European Union's Emissions Trading System (EU ETS) is now complete as it has been passed into law, the European Council has said.
The legislation will go forward to be signed by the council and the European Parliament and published in the EU's Official Journal before entering into force, the council added.
Shipping emissions, included within the scope of the EU ETS for the first time, will see allowances for shipping companies phased in at 40% for verified emissions from 2024, 70% from 2025 and 100% from 2026.
The EU ETS is a carbon market based on a system of cap-and-trade of emission allowances for energy-intensive industries and the power generation sector.
The rule covering shipping and the other four laws form part of the EU's 'Fit for 55' strategy to deliver on 2030 climate targets.
