A big portion of global maritime trade is connected to Europe, meaning climate action on the continent has a major impact elsewhere. The EU’s carbon market is already forcing polluting ships from around the world to pay for their emissions, while raising significant revenues to fund the transition to cleaner fuels.
EU ports handled 3.4 billion tonnes of goods in 2023 with 27% of global maritime trade being connected to the bloc in 2023.
FuelEU Maritime is a fuel standard that mandates the uptake of lower carbon fuels. The EU ETS could help fund these green shipping fuels.
EU regulation has driven policy change at the International Maritime Organization, which is now considering adopting a similar system globally. The repercussions could be a net zero maritime world.
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Cruise ships have doubled in size since 2000
Sources:
For the 3 numbers on top of the page: Clarksons Research and T&E modelling