The EU has already introduced climate regulation of shipping through the EU ETS and FuelEU Maritime. In 2026, when ETS is fully phased in, Danish shipping companies are expected to contribute DKK 3.8 billion to the system. Danish Shipping proposes that ETS revenues should be earmarked as a support scheme for the green transition of shipping – including both production and offtake.

“Those funds must be used to accelerate the build-up of green fuel production in Europe. Our shipping companies are ready to switch, but we cannot afford to wait for other regions to outpace us. We are facing investments worth billions. It is only logical that the funds we ourselves contribute through quotas should also be used to create the production of the fuels we will sail on in the future,” said Jacob K. Clasen in an interview with the shipping media outlet Søfart.

It is also crucial to ensure proper alignment between EU climate regulation and a forthcoming global IMO regime.

“The EU must adjust its rules to a global agreement. It must not result in double regulation and double payment. Ideally, we should have one system for regulating shipping’s CO₂ emissions,” Jacob K. Clasen tells Søfart.