Trading house Trafigura to consider offsets to help meet its first GHG goal
Commodities trader Trafigura set its first emissions reduction target on Wednesday, aiming to cut its scope 1 and 2 emissions by at least 30% under 2020 levels by the end of its 2023 financial year.
Read MoreBRIEFING: Portugal vows to conclude EU Climate Law in its six-month presidency
The European Climate Law, industrial policy, and green shipping are three priorities of the six-month Portuguese EU Council presidency that took over on Jan. 1, putting the bloc’s climate files high on the agenda.
Read MoreEU carbon market rules give negligible risk of ships evading obligations -report
There is little risk that ships would make port calls in non-EU ports to evade compliance under an extended EU cap-and-trade system, according to an NGO report released on Monday.
Read MoreClimate Ambition Summit: World leaders strengthen pledges, celebrate Paris anniversary
Over 70 world leaders addressed the Climate Ambition Summit on Saturday, a one-day virtual forum aimed at building momentum for raising national pledges to the 2015 UN Paris Agreement ahead of the pact taking effect next year.
Read MoreFree EU carbon allowances an option for shipping -lead MEP
The EU could freely allocate EUAs for shipping if the sector is brought into the bloc’s cap-and-trade system, which could prevent carbon leakage and ensure predictability, a senior MEP from the assembly’s transport committee (TRAN) said on Monday.
Read MoreJapan, South Korea oppose move to bring global shipping into EU carbon market
Japan and South Korea have 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 plans.
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.
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