Ships across the world face a hefty $3.6 billion climate bill
PORTS & SHIPPING

Ships across the world face a hefty $3.6 billion climate bill

Ships sailing to European ports face a combined carbon emissions bill of $3.6 billion next year, the start of a levy that’s almost certainly going to rise as the continent steps up efforts to combat climate change. The figure is an estimate of the total price of complying with the European Un...

Ships sailing to European ports face a combined carbon emissions bill of $3.6 billion next year, the start of a levy that’s almost certainly going to rise as the continent steps up efforts to combat climate change. The figure is an estimate of the total price of complying with the European Union’s Emissions Trading System from Drewry Shipping Consultants. Under the regulation, which takes effect January 1, vessels going into and out of EU ports must pay for their carbon pollution, affecting deliveries of everything from container loads of finished goods to the liquefied natural gas needed to keep homes warm in winter. The global shipping industry spewed over a billion tonnes of CO2 in 2018.

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