Making the EU carbon market shipshape for the maritime sector

Carbon Market Watch argues that including international maritime transport in the EU ETS is essential for sector decarbonisation given the lack of progress at the International Maritime Organisation. The organization recommends covering 100% of international voyages to and from the European Economic Area, starting in 2024, and expanding the scope to include non-CO2 gases and vessels from 400 to 5,000 gross tonnage. It further advocates for the removal of exemptions for outermost regions and specific vessel types, and the creation of an Ocean Fund to receive 75% of generated revenues to support zero-carbon fuels and energy efficiency.

• Carbon Market Watch recommends that the EU ETS cover 100% of international voyages to and from any port in the European Economic Area (EEA), supporting a phased approach where 100% of intra-EEA and 50% of international voyages are covered initially, moving to 100% by 2027. It argues that exemptions for outermost regions should be removed to maintain the system's effectiveness.
• The organization proposes that shipping companies cover 100% of verified emissions starting in 2024, as the sector already possesses detailed emissions data via the EU maritime Monitoring, Reporting and Verification system. The scope should include non-CO2 gases like methane (CH4) and nitrous oxide (N2O), and expand to vessels between 400 and 5,000 gross tonnage, as well as all vessel types including luxury yachts, ice class, and offshore services.
• Carbon Market Watch supports the creation of an Ocean Fund to manage 75% of the revenues from maritime inclusion, directing funds toward energy efficiency for ships and ports and the deployment of zero-carbon fuels.

APA

Rao, D. (2022). Making the EU carbon market shipshape for the maritime sector. Carbon Market Watch. https://carbonmarketwatch.org/2022/09/20/making-the-eu-carbon-market-shipshape-for-the-maritime-sector/

Chicago

Rao, Daniele. Making the EU carbon market shipshape for the maritime sector. Carbon Market Watch, 2022. https://carbonmarketwatch.org/2022/09/20/making-the-eu-carbon-market-shipshape-for-the-maritime-sector/.

Wikipedia

{{cite press release |last1=Rao |first1=Daniele |title=Making the EU carbon market shipshape for the maritime sector |publisher=Carbon Market Watch |date=20 September 2022 |url=https://carbonmarketwatch.org/2022/09/20/making-the-eu-carbon-market-shipshape-for-the-maritime-sector/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{rao2022making, author = {Rao, Daniele}, title = {{Making the EU carbon market shipshape for the maritime sector}}, publisher = {Carbon Market Watch}, year = {2022}, month = sep, url = {https://carbonmarketwatch.org/2022/09/20/making-the-eu-carbon-market-shipshape-for-the-maritime-sector/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }