EU agrees Emissions Trading System for Shipping

The European Union Council and Parliament have agreed amendments to include shipping in the EU emissions trading system (EU-ETS) from 1 January 2024.
 

Further to our earlier advice on the European Union Council and Parliament reaching a provisional deal to include shipping in the EU emissions trading system (EU-ETS), the new amendments and related EU documents have now been published.  
 

For shipping, the requirements will start from 1 January 2024, with the deadline for surrendering allowances (EUA) extended to 30 September. 
 

Read the official EU documents here:

REGULATION (EU) 2023/957 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 10 May 2023 amending Regulation (EU) 2015/757 in order to provide for the inclusion of maritime transport activities in the

EU Emissions Trading System and for the monitoring, reporting and verification of emissions of additional greenhouse gases and emissions from additional ship types.

Directive (EU) 2023/959 of the European Parliament and of the Council of 10 May 2023 amending Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the Union and

Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading system.

Commission Implementing Regulation (EU) 2023/2599 of 22 November 2023 laying down rules for the application of Directive 2003/87/EC of the European Parliament and of the Council as regards the administration of shipping companies by administering authorities in respect of a shipping company.

Source: NorthStandard

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