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Start thinking about carbon strategies today

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Shipping companies should be looking at carbon strategies – both compulsory and voluntary – today as impactful legislation is fast approaching.That was the message from a joint Baltic Exchange-Institute of Chartered Shipbrokers webinar, where expert speakers examined the carbon markets and their impact on freight.

James Blunt, head of voluntary carbon, shipping and aviation, at Redshaw Advisors, outlined the two main current carbon compliance markets that shipping needs to be aware of: the European Union Emissions Trading Scheme (EU ETS) and the UK ETS, which he described as an “upshot of Brexit”.

The EU ETS is a cap-and-trade system that sets an annual cap to a sector which then filters down to organisations within that sector. Over time, that cap tightens. “It’s designed to encourage companies to implement emission reduction strategies,” Blunt explained...


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