This study by CE Delft was commissioned by the European Comission to give direction to EU plans to act on maritime emissions in the absence of any global moves. The study considered a long list of regulatory possibilities available and settled on five broad approaches for comparison; a cap and trade scheme, a baseline and credit scheme, a carbon tax/bunker fuel levy, mandatory efficiency standards and voluntary action.
On the basis of cost and environmental effectiveness, and ease of implementation, the study placed cap and trade at the top of the pile. The best options would be either inclusion of shipping as a covered sector in the EU ETS, or a separate cap and trade arrangement that was linked to the EU ETS.
It recommends the scheme apply to emissions on all voyages to EU ports, with most emission permits auctioned rather than given away. It found that a carbon tax could also reduce emissions in shipping by a similar volume but it would be harder to implement.
DownloadTechnical support for European action to reducing greenhouse gas
emissions from international maritime transport353 pages
Comparison table of main options1 page