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EU countries ready for CO2 quota negotiations – but without a shipping fund

After marathon negotiations, EU member countries passed a mandate late Tuesday for inclusion of shipping into the union’s emissions trading system. A proposed special fund for the industry’s transformation does, however, not appear to be on the table.

Photo: PR/Hapag-Lloyd

BRUSSELS – Although there has to be a particular focus on the shipping industry’s challenges, it seemingly has to take place through the European Union’s existing climate funds.

This much is clear after the EU’s climate and energy ministers reached an agreement at a meeting in Luxembourg following more than 16 hours of negotiations Thursday night in regards to a negotiating mandate for, among other things, revision of the union’s CO2 quota trade system, Emissions Trading System (ETS).

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