With Europe committing to bring shipping into its emissions trading scheme (ETS), European shipowners have set out a preferred agenda to work within the scheme while stressing their commitment to global rather than regional measures for decarbonisation.

The European Community Shipowners’ Association (ECSA) has set out a framework to work with an EU market-based measure that it hopes can dovetail with future International Maritime Organization plans and include a fund to reduce the burdens of an ETS while reinvesting in shipping’s energy transition.