November 9, 2023
Shipping Companies Must Prepare for Carbon Pricing Measures Soon
The shipping industry will sail into the uncharted waters of the EU Emissions Trading System next year. Kasia Klaczynska Lewis, EY Center for Climate Policy Leader, considers what the carbon pricing mechanism might look like and the impact for shipping companies. Regardless of the route chosen by the International Maritime Organization, it’s essential for shipping companies to understand the role of carbon markets—especially the role they can play in reducing the emissions footprint of voyages. Trading in carbon offsets requires careful consideration and understanding of their complex legal, tax, and accounting nature, how policy trends impact their monetary value, public perception of offsets, and the potential related mandatory and voluntary claims.
Learn more in this recent EY article.