EU ETS Environmental charges

EU ETS Environmental charges

Finnlines — 2023-11-17

Members Corner

Starting in 2024, the European Union Parliament has instituted a requirement for shipping companies to become a part of the Emission Trading Scheme (ETS) with the aim of achieving a 55% reduction in greenhouse gas (GHG) emissions by 2030, as compared to the levels in 1990. Under this new regulation, companies are obligated to procure annual GHG emission allowances.

It is important to note that the expenses associated with complying with the EU ETS will have an impact on our operations and costs. Just as we have tackled similar regulatory charges in the past, Finnlines is committed to minimizing the repercussions on our valued customers and maintaining competitive freight costs through every possible means.

Our dedication to this objective is evident through our investments in state-of-the-art vessels equipped with cutting-edge environmental technologies. Additionally, we continually fine-tune our operational parameters to reduce the consumption of fossil fuels. As part of our sustainability strategy, we are actively planning a gradual transition to alternative fuels.

EU ETS will start on January 1, 2024. The ETS environmental charges specified below will be in effect from January 1 to March 31, 2024, with a re-evaluation of prices for the second quarter scheduled for March.