The UK government has announced a series of steps for the coming years to expand its Emission Trading Scheme, including for the first time bringing domestic shipping into the program. Experts highlight that it is another example of individual countries taking steps to reduce emissions in the lack of international agreements for industries such as shipping that reach beyond domestic borders.
The announcement that shipping will be required to participate in the program starting in 2026 comes as the International Maritime Organization struggles to reach a consensus at the ongoing International Maritime Organization’s Marine Environment Protection Committee (MEPC) meeting.
According to the announcement, the UK government chose to put the announcement out now to provide shipping and other industries time to begin planning for the changes that will begin in 2024 and be phased into the program over the next few years.
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