EU ETS
1 January 2024 brings in a major change for shipping.
The mandatory European Union Emissions Trading Scheme combats regulated GreenHouse Gases by requiring power, industrial and aircraft interests to obtain and relinquish emissions allowances. Known as EUAs, these represent quantities of GHGs emitted annually, and can be bought and sold in a “cap and trade” marketplace.
This is fast coming to shipping, because from 1 January 2024 the EU ETS will apply to CO2 emissions from all vessels of 5,000 GRT and above that enter EU ports, whatever their Flag State. There is grading if loadport and disport are both in the EU or one is outside, and for shipping the scheme will apply to methane and nitrous oxide only from 2026.
This will bring about the challenge of compliance, with extra requirements and the need for strategic carbon management, but also the opportunity to help with decarbonisation by trading on the world’s first and most extensive carbon market.
The Synergy Marine Group can read these changing tides and navigate what are maybe unfamiliar waters. It can be your EU ETS compass – accurate, advanced and assured.
Alongside proven and frontier success with EEXI and CII, Synergy’s services include:
* audit and consultation – appraising your carbon footprint and tailoring reduction strategy;
* monitoring and reporting via seamless and optimal data collection that ensures constant compliance;
* leveraging opportunities in carbon and emissions trading and offsetting;
* regular and frequent market and regulatory updates
The Synergy Marine Group blends world class ship management with leading digitalisation and innovative decarbonisation, and can bring about operational enhancement and cost saving as part of complete compliance.
Our experienced team understands the complexities of the EU ETS and its implications for shipowners and other stakeholders, and offers comprehensive and cost-effective solutions. Please contact us at marketing@synergygroup.sg, and let us chart a course for an ever greener, always compliant and sustainable and profitable future.
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