The Union of Greek Shipowners (UGS) acknowledges the positive elements of the outcome of the negotiations between the European institutions regarding the inclusion of shipping in the European Union Emissions Trading System (EU ETS). The agreement reflects to a significant extent the positions of the European shipping industry, namely the due application of the “polluter pays” principle – making a ship’s commercial operator responsible for the compliance cost – and the earmarking of part of the revenues generated from shipping for the decarbonisation of the sector. Both proposals have been consistently advocated by the UGS since April 2021.

“We view several aspects of this provisional agreement positively, notwithstanding the fact that the EU ETS is a regional measure. Many important parameters of its application remain to be determined and vigilance is needed to ensure that they are suitable for the sector”, the President of UGS, Ms. M. Travlos, stated.

The UGS is firmly committed to the decarbonisation of the shipping industry. To this end, it highlights again the importance of committing all the relevant out-of-sector stakeholders to this challenging undertaking. Effective mandatory measures for the other stakeholders, such as fuel producers and suppliers, are also necessary.

“Shipping performs consistently an indispensable service for the welfare of the citizens of the world. The strategic importance of shipping is exhibited more vividly during times of geopolitical turmoil or global emergencies. Similarly, ships will also constitute one of the prime facilitators of global decarbonisation, as they will transport most of the new alternative fuels worldwide”, Ms. Travlos added.

Today, with the beginning of a new round of discussions on shipping’s decarbonisation at the International Maritime Organisation (IMO), its Member States must take the opportunity to reach agreement. The UGS strongly supports the ICS submission for a measure based on a contribution per ton of carbon dioxide emitted by the global fleet, as well as the ICS submission on the revision of the agreed decarbonisation targets.

“We very much look forward to the IMO taking firm decisions that will achieve truly environmental benefits”, Ms. Travlos concluded.