EU shipping CO2 monitoring system brings 'momentum' for international agreement
According to a new EU regulation, ship operators will be required to monitor, report and verify (MRV) CO2 emissions.
Currently, the transport sector is responsible for around 25 per cent of greenhouse gas (GHG) emissions, second only to the power sector. Maritime transport accounts for four per cent of the EU's CO2 emissions, and is the only mode of transport that is excluded from European commitments to reduce GHG emissions.
According to the international maritime organisation (IMO) - the United Nations' shipping body - under a 'business as usual' scenario, emissions from shipping are expected to increase by between 50 and 250 per cent by 2050, due to demand for transport and growth projections for global trade. However, international negotiations have failed to deliver a deal to reverse this trend. [...]
The Parliament Magazine
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