The UK, following the European Union, has included the Emission Trading Scheme (ETS) from 2026 into domestic shipping and it will apply to vessels of 5,000 gt and above.
The Govt. statement says that the decision is a step towards reaching net zero emissions and would put them on a path of net zero and will also allow support to crucial industries to maintain long-term sustainability.
The full-fledged support from the UK Chamber is appreciated, which is demanding that funds raised should also be diverted towards supporting the development of zero-emission vessels, alternative fuels, and technology and associated port infrastructure.
In the EU, the shipowners are required to pay for allowances covering 40% of emissions from next year and 70% and 100% in 2025 and 2026 respectively.
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