European Commission to Release Maritime Decarbonisation Strategy with €10bn Emission Revenue Focus
The European Commission will unveil a maritime decarbonisation strategy on February 18, aiming to allocate national emission revenues from shipping to generate €10 billion annually by 2030. The strategy includes funding for low-carbon shipbuilding, a task force to connect stakeholders, and streamlined monitoring under the EU emissions trading system, with a focus on reducing greenhouse gas intensity in marine fuels starting in 2025.
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The European Commission will publish a maritime manufacturing industrial strategy on 18 February, emphasizing mechanisms to allocate national emission revenues for maritime decarbonisation. The strategy anticipates generating €10 billion annually by 2030 from shipping emissions under the EU emissions trading system (ETS).
Additionally, 20 million ETS allowances, valued at approximately €1.6 billion, will support emissions reductions through the bloc's innovation fund until 2030, focusing on renewable and low-carbon fuels. A task force will facilitate connections among ports, shipping companies, and fuel producers.
The commission aims to mobilise €800 million for shipbuilding and low-carbon vessels by 2028 and plans to finance a Zero Emission Waterborne Transport programme with €160 million until 2027. Monitoring and verification requirements under the EU ETS will be streamlined, targeting greenhouse gas intensity cuts for marine fuels starting in 2025.
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