The decarbonisation of maritime transport: navigating between a global and EU approach
The decarbonisation of maritime transport: navigating between a ... Oxford Institute for Energy Studies
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Maritime Transport and the Sustainable Development Goals (SDGs)
Maritime transport plays a significant role in global greenhouse gas (GHG) emissions, accounting for approximately 3% of anthropogenic GHGs. However, it is not currently covered by the objectives of the Paris Agreement. In an effort to address this issue, the International Maritime Organisation (IMO), the main regulator for the sector, recently adopted a revised GHG strategy. This strategy aims to achieve net-zero GHG emissions from international shipping by 2050.
Furthermore, starting in 2024, maritime transport emissions will be included in the European Union’s cap-and-trade program, known as the Emissions Trading System (EU ETS). This means that shipping companies using European ports will be required to monitor and report their emissions. They will also need to purchase and surrender EU allowances (EUAs) for each tonne of carbon dioxide (CO2) emissions reported. From January 1, 2026, this obligation will be extended to include two additional short-lived GHGs – methane (CH4) and nitrous oxide (N2O).
Decarbonisation Policies for Shipping
This energy insight report provides an overview of the key issues and tensions related to the decarbonisation policies for the shipping industry. It examines the new requirements that shipping companies will face under the EU ETS and discusses the implications for decarbonisation efforts in the sector.
Methane Mitigation in the EU and LNG
The report also explores the implications of the EU ETS for methane mitigation in the European Union. Methane is a potent greenhouse gas, and reducing its emissions is crucial for achieving the SDGs. The use of liquefied natural gas (LNG) as a cleaner fuel alternative in the shipping industry is also discussed.
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