Japan, South Korea oppose move to bring global shipping to EU carbon market
Japan and South Korea has voiced concerns over EU plans to extend the scope of its ETS to include emissions from all voyages using the 27-nation bloc’s ports, which the European Commission is considering as part of its carbon market reform.
Read MoreUN’s IMO strikes shipping emissions deal that lets maritime GHGs keep rising
Nations agreed a global maritime deal at the UN’s IMO on Tuesday that would allow the sector’s emissions to rise for another decade, a move that could strengthen the EU’s resolve to take tougher action in its own waters.
Read MorePacific Islands pin hopes on carbon pricing as ‘weak’ shipping emissions deal looms
Two Pacific Island nations urged the UN to advance carbon pricing plans for shipping on Monday, as nations were poised to endorse a global maritime deal that would allow the sector’s emissions to rise for another decade.
Read MoreShipowners urge creation of global R&D fund as report shows scale of zero-carbon fuel needed
The coming decade will be crucial for mobilising funds for zero-carbon shipping fuels, an industry report released Wednesday said, renewing calls for the creation of a $5 billion R&D fund to help the maritime sector decarbonise.
Read MoreHong Kong shipping firm strikes voluntary offset deal with CLP
Hong Kong-based shipping firm Wah Kwong has agreed to buy an undisclosed amount of carbon credits from the territory’s biggest power company as part of a joint effort to “raise awareness of decarbonisation in the shipping industry”.
Read MoreMARCU MY WORDS: The importance of the Article 6 Guidelines to the success of the Paris Agreement
The absence of the Article 6 Guidelines creates uncertainty for the accounting treatment of assets in the emerging carbon market under the Paris Agreement as well as for other related markets. The importance of the international accounting treatment cannot be overstated.
Read MoreEU lawmakers demand more global efforts to cut shipping emissions ahead of key meeting
MEPs in the European Parliament’s influential environment committee are not convinced by the deal on global shipping emissions struck last week at the UN’s International Maritime Organisation (IMO) and want the European Commission to push for more stringent measures at a meeting in November.
Read MoreANALYSIS: Shipowners face reality of EU carbon market expansion amid global wrangling, retaliation threats
The European shipping industry is waking up to the reality that the 27-nation bloc is determined to include the sector in its ETS, as the UN body tasked with tackling global maritime emissions struggles to agree on measures that campaigners say would make little difference.
Read MoreCARBON FORWARD 2020: EU ETS extension a “frightening” risk to poor -senior Polish official
Extending the EU carbon market to buildings presents a “frightening” risk of harming the poor, a senior Polish official said during the Carbon Forward 2020 conference on Wednesday, as Brussels unveiled bloc-wide renovation plans.
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