As the maritime industry grapples with unprecedented logistical disruptions, PortXchange highlights the sector’s lack of readiness for the upcoming EU environmental regulations.
As international regulators require net-zero emissions across the sector by 2050, impactful regulations have been implemented to achieve this necessary goal.
The recording of EU emissions by Measurement, Reporting, and Verification (MRV) and Corporate Sustainability Reporting Directive (CSRD), coupled with the increasingly strict limits on emissions by FuelEU and ETS, signifies the profound regulatory change the maritime sector is undergoing, asserted Sjoerd de Jager, CEO of PortXchange.
The recent ETS assignment of administering authorities to shipping companies is one of the final stages in implementing the ETS.
Each shipping company has also been allocated a country to open its Maritime Operator Holding Account (MOHA) and submit its GHG emission allowances (EUAs), further restricting allowable emission levels.
Although these new requirements may currently appear modest, de Jager believes they will quickly intensify and necessitate sweeping adjustments within the sector. Adequately adapting to these changes demands a swift and dedicated response.
For the PortXchange CEO, the substantial fines for non-compliance will mean a change of attitude from indifference and waiting and seeing to rapid compliance in meeting deadlines. This underscores the need for immediate action to avoid any financial consequences.
Despite the regulations primarily targeting shipping lines, the role ports will play in meeting these challenges is vital. Sjoerd de Jager stresses that ports are strategically positioned to lead the charge towards greener shipping, as they are essential locations in designing the new fuel infrastructure and are often sources of massive emissions from transportation and industrial cluster activity.
READ: IMO, PortXchange strive to accelerate decarbonisation
“Port emissions cannot be ignored in the shipping line calculations as Scope 3 and sometimes Scope 2. With ports often also close to residential areas, the impact of a port’s decarbonisation agenda is hard to overestimate,” Sjoerd de Jager stated.
“The complexity of the current environmental regulations requires data-driven solutions so the maritime sector can remain proactive in complying with the new industry standards. Ports must lead in the historic effort to reduce emissions and PortXchange is committed to supporting the industry in achieving this goal.”
PortXchange’s EmissionInsider will reportedly help benchmark current port emissions, evaluate strategies to reduce emissions, and implement decarbonisation practices so ports can achieve zero-emission status.
“Our reliable data collection services enable ports to be leaders in complying with international climate regulations while transitioning to creating a more sustainable port ecosystem.”
In March 2023, PortXchange Products B.V. obtained a Certified B Corporation. A Certified B Corporation (‘B Corp’) is a third-party accreditation that requires the company to take a critical look at the way it conducts its business, according to PortXchange.
