The European Commission has updated its guidance on the EU Emissions Trading System (EU ETS) and the Monitoring, Reporting, and Verification (MRV) Maritime Regulation. This document clarifies compliance requirements for shipping companies, ensuring alignment with evolving carbon pricing and emissions reporting frameworks.
Key Updates
Expanded Greenhouse Gas Coverage
From 2024, the MRV Maritime Regulation covers carbon dioxide (CO₂), methane (CH₄), and nitrous oxide (N₂O). By 2026, all three gases will be included in the EU ETS, impacting allowance obligations.
Compliance and Reporting Obligations
- Companies must submit annual emissions reports for each ship and a company-level emissions report.
- Monitoring plans must be updated and approved by the administering authority.
- Shipping companies must surrender EU ETS allowances for emissions within the scheme’s scope.
Impact on the Maritime Sector
These regulatory changes aim to enhance transparency, accountability, and emissions reduction. Shipping companies must adapt their monitoring strategies to comply with the EU’s climate objectives.
Download Document PDFs Here: The EU ETS and MRV MaritimeGeneral guidance for shipping companies (Guidance document No. 1, Updated Version, 5 November 2024)