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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...
HELLENIC SHIPPING NEWS
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