What are the costs and benefits of the proposed MRV system?
The Commission's analysis of the proposal shows the MRV system will be economically
profitable for the shipping sector. The predicted fuel cost savings would outweigh the cost
of monitoring, reporting and verification of emissions, leading to net cost savings of up to
€1.2 billion a year by 2030.
The MRV system would also reduce emissions by up to 2% compared with a 'business as
usual' scenario. By providing reliable data on ships' fuel consumption and emissions, the
system would encourage the sector to implement technical and operational measures for
reducing emissions and fuel consumption at no (or even negative) cost. Such measures
are already available but not sufficiently used. Their uptake is currently hampered by
market barriers such as lack of information and lack of access to finance.
While yielding environmental and economic benefits, the EU MRV system is also designed
to contribute actively to an IMO agreement on global measures to reduce shipping
emissions based on MRV systems.
Source: European Commission Back to all F.A.Q.
profitable for the shipping sector. The predicted fuel cost savings would outweigh the cost
of monitoring, reporting and verification of emissions, leading to net cost savings of up to
€1.2 billion a year by 2030.
The MRV system would also reduce emissions by up to 2% compared with a 'business as
usual' scenario. By providing reliable data on ships' fuel consumption and emissions, the
system would encourage the sector to implement technical and operational measures for
reducing emissions and fuel consumption at no (or even negative) cost. Such measures
are already available but not sufficiently used. Their uptake is currently hampered by
market barriers such as lack of information and lack of access to finance.
While yielding environmental and economic benefits, the EU MRV system is also designed
to contribute actively to an IMO agreement on global measures to reduce shipping
emissions based on MRV systems.
Source: European Commission Back to all F.A.Q.
