In a press release of European Federation for Transport and Environment AISBL the success of EU in expanding carbon and aviation markets is announced.
The EU Parliament has voted in favor of extending its carbon market to shipping and road transport, two weeks after it also voted on expanding coverage to all departing flights from the EU. Transport & Environment (T&E) has welcomed this historic expansion and calls on national governments to adopt an equally ambitious position in the European Council later this month.
This is great news for the planet – it means that we can reduce emissions from these two sectors by up to 45% by 2030. And it sets us on course for a net-zero economy by 2050.
This is a very important step forward for climate action, as emissions from these sectors are responsible for a significant portion of global greenhouse gas emissions. The extension of the carbon market will create incentives for businesses to reduce their emissions and invest in low-carbon technologies. It will also help us meet our commitments under the Paris Agreement.
Sofie Defour, climate manager at T&E (Transport & Environment): “This marks a historic day for European climate policy. Expanding the EU’s flagship cap and trade scheme ensures that more of Europe’s polluters are made to pay.”
The Parliament has voted in favour of including all ships above 400 gross tonnage and offshore vessels – like those servicing offshore gas and oil facilities – in the EU’s carbon market. Polluters will have to pay for all greenhouse gases they pollute – CO2, methane and nitrous oxide – when sailing within the EU and 50% of voyages outside of the bloc until 2027. After 2027, the scope of the carbon market will be automatically extended to 100% of ships entering and leaving European ports.
Lawmakers did however bow to pressure by including exemptions for ice-going ships and ships traveling to outermost regions, delaying the decarbonisation of these vessels.
After 10 years fight, big shipping polluters will finally be made to pay.
This is a huge step forward in our fight against climate change! By putting a price on carbon emissions, we are incentivising companies to reduce their pollution levels. This vote sends a clear message that we are serious about tackling climate change head-on!
Sofie Defour added: “At a time when oil and gas majors are making bumper profits off the war in Ukraine, this is a strong step towards a just transition. If this provision from the Parliament becomes law, it will finally make oil majors pay back to society and allow the EU to start shaving off part of their huge profit margins.”
I believe that the Members of European Parliament made a mistake in exempting 75% of emissions from road transport and buildings until 2029.