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EU EMISSIONS TRADING SYSTEM FAQS

EU Emission Trading System (EU ETS) is a cap-and-trade system market-based-measure (MBM) for reducing greenhouse gas emissions (GHG), in the scope of the EU’s “Fit for 55” package.

The revision of the EU ETS Directive entered into force on June 5, 2023. Implementation for the 
maritime industry will begin on:

• January 1, 2024, for cargo and passenger ships of 5000 GT and above; and
• January 1, 2027, for offshore ships of 5000 GT and above.
  Starting from 2025, shipping companies will have to surrender sufficient EU emission allowances.

(EUAs) based on EU monitoring, reporting and verification (MRV) data of the previous year. The 
EU ETS has two principles, setting a ceiling on the yearly maximum amount of GHG emissions 
and the trading of EU emission allowances

To discover answers to the industry’s most frequently asked questions about EU ETS, download your copy of EU Emission Trading System FAQs.