Norwegian Shipowners’ Association Urges Stronger Decarbonisation Incentives

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The Norwegian Shipowners’ Association has called for greater support from the EU, the International Maritime Organisation (IMO), and the Norwegian Government to help shipping companies decarbonise. At a recent press event in Oslo, key association members stressed the need for earmarked funds and clear incentives to accelerate the industry’s shift towards carbon neutrality.

Sovereign Support and Industry Commitment

Helene Tofte, executive director of the Department of International Cooperation and Climate at the association, emphasized the importance of a national “support fund” to motivate shipping companies to meet environmental goals. Despite the sector’s significant contribution to global carbon emissions, maritime decarbonisation has progressed slowly. The association aims for the Norwegian fleet to achieve carbon neutrality by 2050, leveraging the country’s substantial sovereign wealth fund to support net-zero initiatives.

EU Emissions Trading System and Maritime Regulations

The association also highlighted the need for the IMO and EU to clearly allocate funds for the maritime industry’s inclusion in the Emissions Trading System (ETS). The ETS, which mandates maritime companies using EU ports to account for their emissions, will incrementally increase the financial responsibilities for emissions from 2025 to 2027. This phased approach aims to bring shipping in line with net-zero efforts seen in other industries.

Collaborative Efforts for a Sustainable Future

With Norway adhering to many EU regulations, despite not being a member, the Norwegian Shipowners’ Association stresses the importance of regulatory certainty for both environmental and investment reasons. As Knut Arild Hareide prepares to take over as CEO, the industry anticipates increased collaboration on decarbonisation between the Norwegian Shipowners’ Association, Norway’s Government, the IMO, and the EU. This cooperative approach is seen as crucial to achieving the ambitious goal of a carbon-neutral Norwegian fleet by 2050.

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Source: Ship Technology

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