Asia braces for EU shipping decarbonisation ramp up

The EU has expanded its carbon trading scheme to maritime transport, including large cargo and passenger ships traveling to and from Asian ports.

By Ryan Li

Feb 21, 2024

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Starting from the beginning of 2024, the European Union’s (EU) emissions trading system (ETS) has been expanded to cover maritime transport emissions. This means that the shipping industry is officially included in the ‘cap-and-trade’ carbon market system – which means being required to purchase and surrender their emission allowances by a certain time in the following year.

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