The European Commission has adopted the Union-wide quantity of allowances to be issued under the EU Emissions Trading System (EU ETS) for 2024 for stationary installations and maritime transport activities. This cap will be cut by 90 Mt in 2024 and by another 27 Mt in 2026 but the inclusion of the maritime transport sector in the scope of the ETS Directive in 2024 should raise the cap by 78.4 Mt. The cap will be reduced each year by 4.3% between 2024 and 2027 and by 4.4% from 2028.
The EU Emissions Trading Scheme puts a cap on the CO2 emitted by more than 11,000 EU installations in the power sector and energy-intensive industry through a market-based cap and trade system, covering around 40% of the EU greenhouse gas (GHG) emissions. It will also cover emissions from maritime transport from 2024.
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