Decarbonising the shipping industry
Environmental group Transport and Environment (T&E) has expressed support for the Commission’s initiative to develop a carbon pricing scheme for the maritime sector, as it sends a clear signal to the market that polluters need to pay. Including shipping in the EU emission trading system (ETS) will allow for the internalisation of climate externalities.
Crucially, the maritime ETS will raise revenues that will be essential for deploying sustainable zero-carbon technologies and fuels in shipping. As global shipping will require between $70 and 90 billion in annual investments over the next 20 years to fully decarbonise by 2050, a dedicated support scheme for the maritime sector should be set up. A new T&E briefing outlines how this can be done.
Source: T&E News, 5 February 2021.
Link to T&E briefing: https://www.transportenvironment.org/publications/how-decarbonise-shippi...