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ARTICLE · 07 MAY 2024

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Keeping Up With EU ETS And MRV Obligations

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As of 1st January 2024, the European Union ("EU"), welcomed the updated EU Emission Trading System (the "EU ETS") rules which were duly extended to cater...

European UnionTransport
Gabriel DeBono
Gabriel DeBono
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As of 1st January 2024, the European Union (“EU”), welcomed the updated EU Emission Trading System (the “EU ETS”) rules which were duly extended to cater for the maritime sector by means of Directive (EU) 2023/959 of the European Parliament and of the Council of 10th May 2023 amending Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the Union and Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading system  (the “EU ETS Directive”). By means of the EU ETS Directive, EU ETS will be extended to cover CO2 emissions from all cargo and passenger ships (i.e. those of 5000 gross tonnage and above) which enter EU ports, regardless of the flag that they fly.

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