ClassNK releases FAQs on EU-ETS for Shipping

TOKYO : ClassNK has released “FAQs on the EU-ETS for Shipping”, an overview and necessary preparation of the European Union Emissions Trading System (EU-ETS), which is expected to be introduced to the maritime industry.

The European Union (EU) has set a goal of reducing greenhouse gas (GHG) emissions by at least 55% by 2030, compared to the 1990 levels, with the aim of achieving net zero emissions by 2050. A comprehensive climate policy package presented “Fit for 55” announced in 2021 to achieve the 2030 target, includes a legislative proposal to extend the EU-ETS to the shipping sector. The proposal is being finalized by the European Parliament and the Council of the European Union with a view to implementing it from January 2024.

To assist the preparation of shipping stakeholders required to respond to the EU-ETS, ClassNK has developed “FAQs on the EU-ETS for Shipping” based on information currently under review. The FAQs provide an overview of the EU-ETS and introduce the necessary preparations in a Q&A format. ClassNK will update the information promptly in accordance with deliberations in the EU.

“FAQs on the EU-ETS for Shipping” is available on the following page of the ClassNK website.

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Table of Contents of FAQs on EU-ETS for Shipping
Q1 What is the EU-ETS?
Q2: What is an overview of the EU-ETS for shipping?
Q3: How can I check the GHG emissions?
Q4. What is the “port of call” under the EU-ETS for shipping?
Q5: What should I do for the EU-ETS for shipping?
Q6: Who will purchase allowances under the EU-ETS for shipping?
Q7: When, where, and how can I purchase/surrender allowances?
Q8: What are the penalties for non-conformities?
Q9: How are the revenues from the EU-ETS for shipping used?