The EU takes decisive action to decarbonize shipping, criticizing the insufficient progress of IMO emission reporting requirements, says an article published in Safety4Sea.
EU Emissions Trading System
The EU took more decisive action to decarbonize the maritime sector. On July 7, the Environment Committee voted to include CO2 emissions from the shipping sector into the EU Emissions Trading System (ETS). A new target of 40% reduction in shipping CO2 by 2030 was also set.
EU system revision
The Commission has put forward a proposal:
- to revise the EU system for monitoring, reporting and verifying CO2 emissions from maritime transport (EU MRV Regulation) and
- bring it in line with new obligations under IMO to monitor emissions from 2019 and report in 2020.
In the legislative report approved on July 7 (by 62 votes to 3 and 13 abstentions), the Environment, Public Health and Food Safety Committee welcomed the proposal.
The committee voted to include ships of 5000 GT and above in the EU ETS.
Emissions reduction policies not enough
MEPs say that market-based emissions reduction policies are not enough. So they introduced binding requirements for shipping companies to reduce their annual average CO2 emissions per transport work, for all their ships, by at least 40% by 2030.
Ocean Fund
The committee also called for an “Ocean Fund” for 2023-2030, financed by revenues from auctioning allowances under the EU ETS. The fund would make ships more energy efficient and to support investment in innovative technologies and infrastructure, such as alternative fuel and green ports, to decarbonise the maritime transport sector.
An estimated 20% of the revenues under the Fund shall be used to contribute to protecting, restoring and efficiently managing marine ecosystems impacted by global warming.
EU and IMO reporting
MEPs agree that it is important to align the EU and IMO reporting obligations, as proposed by the Commission.
However, they believe there is insufficient progress in the IMO and ask the Commission to examine the overall environmental integrity of the measures decided upon by the IMO, including the targets under the Paris Agreement.
The Parliament will be ready to start negotiations with member states on the final shape of the legislation in September.
EU commitments to reduce GHG
To date, maritime transport remains the only sector with no specific EU commitments to reduce greenhouse gas emissions. In 2015, 13% of the overall EU greenhouse gas emissions came from the transport sector.
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Source: Safety4Sea
