The European Commission (EC) has set the goal of making Europe the first climate-neutral continent by 2050. In doing so, Europe has adopted a set of proposals to make the EU’s climate, energy, transport, and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels –“Fit for 55”.

The “Fit for 55” initiative is made up of four proposals that are related to the maritime sector.

The Emissions Trading System (ETS) proposal, which will incorporate the maritime sector into the existing system, will put a price on carbon, lowering the emissions cap every year. Implementation is expected in 2023.

The Energy Taxation Directive, which is also expected to enter into force in 2023, will target the bunker procurers and is structured as an instrument to provide vital market signals for developing low carbon fuels.

In 2025, the FuelEU regulation, which aims to accelerate the Maritime’s decarbonization through renewables and low carbon fuels, is expected to be implemented. It will be a goal-based approach to reduce the GHG energy intensity.

Also in 2025, the EC aims to put in place a framework of common measures for all of the European ports for deploying and improving the infrastructure for alternative fuels.