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Shipping giants dispute wisdom of EU's emissions trading scheme

JAPAN, South Korea, and many international shipping groups have warned the European Union (EU) against its plan to add greenhouse gas emissions from the maritime sector to Europe's carbon market, reports Reuters

03 December 2020 - 19:00

JAPAN, South Korea, and many international shipping groups have warned the European Union (EU) against its plan to add greenhouse gas emissions from the maritime sector to Europe's carbon market, reports Reuters.

The EU hopes to have net-zero emissions by 2050, and the European Commission hopes to expand its carbon market to shipping.



The current policy requires power plants, airlines, and factories to buy pollution permits to cover their emissions.



'The application of EU-ETS to international shipping will have adverse repercussions on both environmental integrity and sustainability of global maritime transport and trade,' said the South Korean government.



'Extension of EU ETS to international shipping is not the suggested way forward, whether the scope is limited to intra-EU shipping only or not,' said Japan's government.



The addition could evoke trade tensions and cause extra emissions by forcing ships to take longer routes to avoid stops in Europe. Shipping produces 2.1 per cent of global CO2 emissions.



Shipping produces 2.1 per cent of global CO2 emissions, a share expected to rise if left unchecked, threatening international efforts to curb climate change.


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