The Maritime Climate Fund Roundtable was hosted by MEP José Inácio FARIA, ALDE, and organized by Transport and Environment in the European Parliament on the 8th of November 2016.
The establishment of a flag-neutral Maritime Fund under the ETS is a policy option at EU level to reduce shipping emissions. If set up, the fund is expected to contribute to the EU’s 2030 climate target by surrendering ETS allowances purchased on behalf of ship operators using member fund contribution. It should also facilitate investments in innovative technologies to reduce the sector’s CO² emissions through ship abatement measures partly financed by the Fund. The Fund will be a carbon pricing mechanism having the EU ETS price as a floor price per tonne of CO².
Different opinions were voiced by Transport and Environment, European Community Shipowners’ Association (ECSA) and Sustainable Shipping Initiative (SSI) on whether it is better to wait for the global mechanism coming from the International Maritime Organization on the maritime emissions, or to have an EU solution. Everyone prefers to “go global”, but the IMO decision-making does not show much progress. Most of the speakers supported the idea of the Maritime Climate Fund. However, questions stay unanswered: How MCF can affect the implementation of the IMO solution? How can it be run? What benefits would international partners get if they must contribute to the MCF?
Maritime is global. ESC strongly supports a global approach towards the securing emission reductions in the maritime sector. A regional approach, if implemented, will lead, in most cases, to a deviation in maritime routes to avoid additional environmental charges imposed at the entrance of the EU. E.g., a ship may stop at a port outside the EU and have the goods delivered to their destination in the EU by truck. Thus, the Maritime Climate Fund does not create a level playing field and will not solve the problem.
Representatives of exporters and importers from around the world have joined forces to advance and protect their members’ interests in the face of unprecedented change in the global container shipping industry.
The South Korean carrier Hanjin was the first major carrier to be hit by the crisis in the shipping industry, caused by overcapacity and low freight rates.