METIS adds EU Emissions Trading Scheme to Total Emissions Management functionality
METIS Cyberspace Technology has added new functionality to its cloud-based Total Emissions Management solution that allows ship owners and operators to make best use of the EU Emissions Trading Scheme (ETS).
As well as supporting IMO’s Data Collection System metrics for a ship’s Average Efficiency Ratio and Carbon Intensity Indicator, and EU monitoring reporting and verification, the new capability means that METIS can help owners manage the complexities of carbon allowances.
Expanding to include maritime transport from next year, the EU-ETS will apply 100% for EU-EU voyages and 50% for EU-Non EU voyages. It aims to cut greenhouse gasses using a combination of emissions trading and emissions allowances for ships. Cargo and passenger ships of 5000 GT and above must account for emissions from January 1, 2024, in order to ‘surrender’ (or use) their first trading allowances by 30 September 2025. The ETS will also cover offshore ships from 2027.
To comply, shipping companies need to monitor emissions under a revised plan that has been assessed by a verified organisation and approved by the administering authority. Once per year, companies submit an emissions report for each ship and aggregated data into the ETS. The progressively more stringent scheme requires ships to surrender emissions allowances, starting at 40% of emissions in 2024, rising to 70% in 2026, and reaching 100% thereafter.