EmissionLink calls for EU ETS revenues to fund maritime carbon capture trials and port infrastructure

Maritime emissions specialist,EmissionLink, has called for a dedicated proportion of EU Emissions Trading System (EU ETS) revenues to be invested in onboard carbon capture trials and supporting port infrastructure, warning that the technology risks remaining commercially unviable without targeted financial support.

Philippos Ioulianou, Managing Director of EmissionLink, believes Europe has an opportunity to accelerate the development of maritime carbon capture by directing emissions trading revenues towards full-scale demonstrations that establish whether the technology can deliver verified emissions reductions at an economically sustainable cost.

The call comes as the International Maritime Organisation (IMO) moves to develop interim safety guidelines for onboard carbon capture systems. While welcoming the initiative, Mr Ioulianou argues that regulatory progress must be matched by investment in the infrastructure, emissions accounting mechanisms and commercial arrangements necessary to make the technology attractive to shipowners.

“Developing safety guidelines is an important step, but regulation alone will not persuade shipowners to invest in carbon capture,” said Mr Ioulianou. “Owners need a credible business case, backed by verified emissions savings, workable carbon disposal arrangements and a clear understanding of the financial benefits.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →