The European Commission has proposed new environmental regulations that ask shipping companies and charters to pay for carbon emissions and use greener fuels — in a move to combat climate change that will drive up maritime transport costs.
The European Union Emissions Trading System (ETS) for shipping and FuelEU Maritime initiative were unveiled on Wednesday as part of the long-awaited "Fit for 55" package of climate policies, aimed at reducing the EU’s greenhouse gas emissions by 55% below 1990 levels by 2030.
