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German bank to broker CO2 allowances to shipping customers

Next year, when shipping companies will have to compensate for their ships’ CO2 emissions by buying EU allowances, the shipping bank Berenberg is ready to act as broker.
Next year, shipping companies with ships larger than 5,000 gross registered tonnes will be required to compensate for their CO2 emissions through the purchase of EU allowances. | Photo: Daniel Reinhardt/AP/Ritzau Scanpix
Next year, shipping companies with ships larger than 5,000 gross registered tonnes will be required to compensate for their CO2 emissions through the purchase of EU allowances. | Photo: Daniel Reinhardt/AP/Ritzau Scanpix
by JENS THOMSEN

The shipping business of German bank Berenberg will broker the sale of EU CO2 allowances to its customers when shipping is gradually included in the European Emissions Trading System (ETS) in 2024.

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