Emissions trading for ships - a European perspective

Shipping is under growing pressure to reduce its emissions to air. Pressures exist at both a local (e.g. port environment) and global (transboundary pollution transport and greenhouse gas issues). Regulation is gradually coming into effect internationally (IMO) and through regional actions in Europe. North America may be next. Shipping would benefit from flexible schemes to achieve better environmental performance and to allow investments to be made in the most cost effective areas. This brief paper sets out some of the issues and describes a Pilot scheme to explore trading in SOx emissions from ships.