EmissionLink, a specialist in marine carbon emissions, has called for investment of a portion of the European Union's Emissions Trading System (EU ETS) revenues in marine decarbonization trials and port infrastructure. The organization has warned that without targeted financial support, this technology may remain commercially unviable.
Development of Marine Decarbonization Technology
Philipos Ioulianos, CEO of EmissionLink, believes that Europe has a unique opportunity to accelerate the development of marine decarbonization technology. He suggests that revenues from carbon trading should be directed towards full-scale trials to determine whether this technology can deliver credible reductions in carbon emissions at a sustainable economic cost.
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Need for Investment in Infrastructure
This request comes as the International Maritime Organization (IMO) is developing interim safety guidelines for marine decarbonization systems. While Ioulianos views this initiative positively, he believes that legal advancements must be accompanied by investment in infrastructure and emissions accounting mechanisms to make this technology attractive to shipowners.
Ioulianos states, "Developing safety guidelines is an important step, but legislation alone cannot convince shipowners to invest in decarbonization. Owners need a credible business model supported by verifiable carbon emission savings. Europe can lead in this area. Allocating a portion of EU ETS revenues to decarbonization trials and port acceptance infrastructure could help determine whether decarbonization can be a sustainable business solution for shipping.
EmissionLink emphasizes the need for investment in demonstration projects that evaluate every stage of the decarbonization process, from collection and storage to loading, transportation, and permanent storage or authorized use. These projects should operate based on specific performance criteria and generate independently verifiable emission data that can assist in the development of regulations and future investment decisions.
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