Financing Onboard Carbon Capture: What Are The Options?

A version of this article was first published in Riviera Maritime Media.

Emissions, or more precisely, the reduction of emissions, is a key topic for the shipping industry. Whilst many ship owners have voluntarily taken steps to decarbonise, there is regulatory pressure, both at supra-national level with action taken by the International Maritime Organisation (IMO) and also at national and regional level, most notably by the European Union (the EU) which has introduced a raft of measures. The EU measures, such as expanding its emissions trading scheme to include shipping (see Shipping and EU ETS: The changing landscape) and introducing new FuelEU Maritime legislation which requires an incremental decrease in shipping emissions (see: New regulation on the FuelEU Initiative adopted by the European Council following scrutiny) have set ambitious decarbonisation standards which will impact all vessels trading to, from or within Europe.