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EU Shipowners Welcome ETS Reform, Seek More Green Tech Funding
18 Jul
Summary
- EU ETS revenues earmarked for shipping, totaling EUR 10 billion.
- Support for sustainable fuels is a strong positive, but clean tech funding is limited.
- Derogations for islands and ice-class ships extended only to 2035.
The European Commission's new EU ETS proposal has received a mixed response from European Shipowners. They welcome the earmarking of ETS revenues, estimating EUR 10 billion will be allocated to the shipping sector, and support for sustainable fuels, recognizing their higher cost.
The proposal is also praised for simplifying reporting requirements and ensuring a level playing field for offshore operators. However, significant concerns remain regarding insufficient support for energy efficiency projects and a narrow focus on clean technologies, excluding wind and electricity. The extension of derogations for small islands, ice-class ships, and outermost regions only until 2035 is also seen as inadequate.
Furthermore, while the proposal commits to avoiding double payments with a potential IMO agreement, it does not signal a clear withdrawal of EU measures once a global accord is reached. European Shipowners urge for more comprehensive revenue allocation and a stronger commitment to a wider range of clean technologies for effective decarbonization.
