Shipping emissions will soon be included in the EU’s Emissions Trading System (ETS). A shipping company will need to submit allowances for 40% of its emissions for 2024, rising to 70% for 2025 and 100% by 2026.
Around 42% of the global fleet calls at EU ports. Shipping is responsible for 3% of total CO2 emissions.
The IMO, the UN body that deals with maritime affairs, has also launched a new set of carbon emissions rules called IMO 2023. The IMO aims to reduce carbon emissions from shipping by 40% by 2030, from 2008.