Time to steer shipping into the EU carbon market

The author contends that the EU must integrate shipping into its carbon market by 2023 because the IMO has postponed concrete actions, such as slow-steaming. The text highlights the significant emissions of the shipping sector and suggests that carbon pricing, potentially as a tax, could effectively reduce CO2 emissions and generate revenue for research and development.

• The International Maritime Organisation (IMO) has failed to agree on immediate climate measures, such as reducing ship speeds, despite a 2018 agreement among 173 member countries to aim for decarbonisation by 2050.
• Reducing ship speed by 20% could lower greenhouse gas pollution by up to 34% and black carbon emissions by 20%, with CO2 savings equivalent to closing 48 coal-fired power plants.
• Shipping emits nearly one gigatonne of greenhouse gases annually, exceeding all European road transport emissions; without action, maritime CO2 emissions could rise by 50-250% by 2050.
• The European Union previously indicated it would include the shipping sector in the EU carbon market by 2023 if the IMO made insufficient progress.
• International Monetary Fund (IMF) estimates suggest a shipping carbon tax of US$75 per tonne of CO2 in 2030 and $150 in 2040 would reduce maritime CO2 emissions by nearly 15% and 25% respectively, raising $75 billion to $150 billion in revenue.

APA

Van den plas, S. (2019). Time to steer shipping into the EU carbon market. Carbon Market Watch. https://carbonmarketwatch.org/2019/11/22/time-to-steer-shipping-into-the-eu-carbon-market/

Chicago

Van den plas, Sam. Time to steer shipping into the EU carbon market. Carbon Market Watch, 2019. https://carbonmarketwatch.org/2019/11/22/time-to-steer-shipping-into-the-eu-carbon-market/.

Wikipedia

{{cite press release |last1=Van den plas |first1=Sam |title=Time to steer shipping into the EU carbon market |publisher=Carbon Market Watch |date=22 November 2019 |url=https://carbonmarketwatch.org/2019/11/22/time-to-steer-shipping-into-the-eu-carbon-market/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{vandenplas2019time, author = {Van den plas, Sam}, title = {{Time to steer shipping into the EU carbon market}}, publisher = {Carbon Market Watch}, year = {2019}, month = nov, url = {https://carbonmarketwatch.org/2019/11/22/time-to-steer-shipping-into-the-eu-carbon-market/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }