European Union Emissions Trading System
As part of the Fit-for-55 Package, the EU’s legislative bodies have reached an agreement to include shipping in the EU Emissions Trading System (ETS) from 2024.
Large ships over 5,000 gross tonnage – regardless of their flag – will soon have to buy allowances to pay for the emissions originated from intra-EU voyages and extra-EU voyages.
A substantial percentage of the revenues coming from the carbon dioxide emission taxation are expected to be put into an Ocean Fund to support investments in green technologies, such as our eSAILs, and alternative fuels.
Our decarbonization technology will generate spare allowances for shipping companies, which in return they will be allowed to keep for future needs or sell to others.