The Cyprus Shipping Chamber  welcomes the positions adopted by the Environment Committee of the European Parliament, on the revision of the EU Emissions Trading System under the “Fit for 55” legislative package and especially the role of the commercial operators and the creation of a Shipping sector dedicated fund.

The ENVI Commission recognises the important role of commercial operators in the decarbonisation of Shipping and in accordance with the “polluter pays” principle, proposes the inclusion of a binding clause in contracts between shipowners and commercial operators with the latter being responsible for the cost of pollutants where they determine the cargo carried or the route and speed of the vessel.

The ENVI Commission is also proposing the creation of a dedicated fund for the Shipping sector, where at least 75% of the revenue from emissions allowances in the EU ETS will be invested back towards the Shipping industry’s decarbonisation efforts.

CSC will continue to cooperate with all stakeholders involved in the legislative process of the “Fit for 55” package and especially with the Cyprus Shipping Deputy Ministry, to achieve ambitious but at the same time achievable environmental goals for Shipping, in its transition to zero-emissions.