Timeline: inclusion of maritime shipping in the EU ETS

2023

• Fit for 55 legislation agreed on by European Council

• Commission provides some clarification on liable parties for surrendering EUAs, available here.

• Shipping companies should agree on the responsibility for EUA surrender. Contract delegating responsibility must be agreed between ship manager and owner; a copy will need to be provided to national administrator in 2024. 

• Agree an approach to achieving a carbon price that can be easily accounted for and passed on. Contact us for guidance on setting a procurement strategy.

• Shipping companies can open an EU Registry Trading Account for use in the months before the EU begins requesting set up of EU Compliance Registry Accounts, likely after February 2024. Alternatively, consider Greenstar Capital's EU ETS fund as an interim solution for managing carbon price risk.

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2024

• Cargo/ passenger ships of 5000 gross tonnes and more are included in the EU ETS

• Shipping companies must make purchases of EUAs corresponding to 40% of intra-European emissions and 20% of emissions between EU ETS covered ports and third countries. 

• 1 February: deadline for publishing of an official list of parties included in EU ETS, divided by national administrator. 

• Open Compliance EU Registry Account - has EUA surrendering functionality. 

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2025​​

• EUAs must be surrendered corresponding to 70% of intra-European CO2 emissions and 35% of emissions between European and third country ports.

•  30  September: deadline for submission of EUAs to administering authority via EU Registry Account. Deadline for submission of EUAs is 30 September of the year following the calendar year's emissions.

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2026

• Full scope: EU ETS covers 100% of intra-European emissions and 50% of emissions between Europe and third countries

• EU ETS updated to include Methane (CH4) and Nitrous Dioxide (N2O)

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2027

• Offshore ships (5000 + GT) included in EU ETS

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2028+​

• Inclusion of offshore and general cargo ships (400 – 5000 GT) in the EU ETS to be considered as part of ETS review

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