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EU Carbon Market to Expand to Shipping, Housing and Transport

  • Europe is drafting biggest carbon market reform to date
  • Overhaul of EU emissions trading to be unveiled on July 14
Port of Rotterdam as Container Shipping Costs Rise
Photographer: Peter Boer/Bloomberg

The European Commission plans to include maritime transport in the world’s biggest carbon market and create an adjacent emissions-trading program for heating and road transport.

The EU executive arm is currently designing the biggest reform of the Emissions Trading System to date in order to align it with a stricter climate targets for 2030. The commission wants to introduce a phase-in period for shipping companies in the the trading system between 2023 and 2025, requiring full compliance with pollution caps as of 2026, according to a draft law seen by Bloomberg News.