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In world first, EU legislators agree to price shipping emissions

On the 29th of November, EU legislators agreed to include maritime transport within the EU’s emission trading scheme (ETS), a move that will force ship operators to pay for their carbon emissions for the first time.The ETS requires polluting industries to pay for each tonne of carbon they emit, with the aim of spurring them to embrace clean solutions.

Under the deal, ships travelling within the EU will be required to pay for 100% of their emissions, while 50% of the emissions of journeys to or from a non-EU destination will be covered.

The percentage of emissions covered will increase over time, starting at 40% in 2025, moving to 70% in 2026, and reaching 100% by 2027. However, these figures “are in brackets” Liese warned, as they must be confirmed by member states during the next negotiating round.

In a departure from the European Commission’s original proposal, non-CO2 emissions, such as methane and nitrous oxide, will be included from 2026.

Read more here.
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Funding and financing, REPower EU, energy sector

The Investors Dialogue on Energy will host its first webinar on the Innovation Fund on 6 December 2022! 

It will provide more than EUR 38 billion (with a EUR 75 carbon price per ton) until 2030 to support investments in clean energy and industry, helping to bring to market the technologies needed for the EU to reach its decarbonisation objectives, while fostering the EU’s industrial competitiveness.
The Innovation Fund is a key funding instrument for delivering on the EU’s European Green Deal and REPowerEU goals.

The Investors Dialogue on Energy (ID-E) is a multi-level stakeholder platform that brings together experts from the energy and finance sectors in all EU countries. Their aim is to assess and upgrade financing schemes to mobilise financing in the context of the European Green Deal and REPowerEU.

Register here.

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