REGULATION

EU to ringfence some ETS funds for shipping

The EU’s on-going negotiations on the EU ETS for maritime has resulted in an agreement that at least 20 million ETS allowances (equivalent to EUR1.5 billion at the current ETS carbon price) will be allocated to maritime projects under the Innovation Fund.

Dr Martin Kröger of the German Shipowners’ Association (VDR) welcomed the provisional agreement, but noted that international market-based measures from the IMO would have been preferable.

The EU’s on-going negotiations on the EU ETS for maritime has resulted in an agreement that at least 20 million ETS allowances (equivalent to EUR1.5 billion at the current ETS carbon price) will be allocated to maritime projects under the Innovation Fund.

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