EU Emission Trading System (EU ETS)

EU ETS is a system that works with a limit of total emissions within a sector, which will gradually be reduced over the years. Within this limit, any company can buy and sell allowances as needed. You may emit 1 ton of CO₂ for every emission allowance you own. If you have too few or too many allowances in relation to the CO₂ emission cap, you can buy or sell additional allowances. Companies that emit a lot of CO₂ therefore pay more than companies that emit less. This way, companies are stimulated and rewarded to invest in reducing CO₂ emissions. A system that matches with the sustainability ambitions of Wagenborg.

Vessel that take part in the EU ETS system, are monitoring, reporting and verifying the CO₂ emissions per ship. Obviously, Wagenborg is compliant with this MRV-regulation by using high-end technologies, such as live data connections and state-of-the-art ERP software. With the new CO₂ regulation, the costs for seaborne transport will increase. This also applies to the vessels of Wagenborg and affiliated captain owners. 

That is not yet entirely clear, because the regulations are still under development.

Although the exact regulation is not clear yet, it is a fact that the costs for seaborne freight will increase as a result of shipping in the EU system.