EMEA News
EU-ETS Funds From Shipping Should Be Used to Subsidise Alternative Fuels: ECSA
Revenues raised from shipping joining the European Union's emissions trading system from this year should be used to subsidise alternative bunker fuels, according to industry body ECSA.
The European body set out its priorities for the next five years this week, with decarbonisation playing a large role in its plans.
The organisation argued for bunker suppliers to be legally required to produce affordable low- and zero-carbon fuels as part of the EU's Fit for 55 Package, as well as suggesting EU-ETS funds should be kept within the sector.
"The revenues of the EU ETS should be spent on energy transition-related activities to decarbonise the shipping sector at the EU and the member states' levels," ECSA said in the document.
"The dedicated envelope for the maritime sector should be used as soon as possible to foster the decarbonisation of the sector and bridge the price gap between conventional and low- and zero-carbon shipping fuels, and be prolonged after 2030.
"Administrative burden should be limited to ensure that SMEs, which are the backbone of the shipping sector, can apply to the calls of the Innovation Fund."
