News
The European Parliament (EP) on Tuesday approved the deals reached with European Union (EU) member nations in late 2022 on several key pieces of legislation that are part of Fit for 55. Decisions were made to reform the Emission Trading System (ETS) and include greenhouse gas (GHG) emissions from the maritime sector in the system. The deals will then be published in the EU Official Journal and enter into force 20 days later.
GHG emissions in the ETS sectors must be cut by 62% by 2030 compared to 2005 levels. Free allowances to companies will be phased out from 2026 through 2034. The EP also voted to include GHG emissions from the maritime sector in the ETS with 500 votes in favor to 131 against and 11 abstentions. The inclusion will be put in practice gradually over the three years from next year.
