Guide Maritime transport in the EU ETS and MRV

The EU Emissions Trading System (EU ETS) is a “cap and trade” system to reduce greenhouse gas emissions by providing economic incentives for reducing emissions. Companies are required to submit allowances corresponding to their amount of emissions. The allowances can be traded as needed. The goal is to reduce greenhouse gas emissions cost-effectively by setting a cap on the total amount of certain gases that can be emitted by companies in sectors covered by the system. Maritime transport was included in the EU ETS 1 January 2024.

The Monitoring, Reporting, and Verification Maritime Regulation (MRV Regulation / MRV) refers to Regulation (EU) 2015/757, which details the requirements for accurate emissions and activity data from maritime transport. It requires shipping companies to monitor their emissions, report the data to the administering authority, and have the data verified by an independent third party. Corresponding regulations exist for monitoring, reporting and verification of emissions in other sectors. 

The MRV Regulation is an important part of the EU ETS, as it provides the basis for determining emissions and activity data from shipping companies. However, the MRV Regulation covers more ships and emissions than the EU ETS. This means that some ships and emissions are covered by the MRV Regulation, but not the EU ETS. The first entails an obligation to report emissions only, while the latter entails both an obligation to report emissions and an obligation to surrender allowances corresponding to those emissions. 

The EU ETS Directive and the MRV Regulation are implemented in Norwegian law through the Greenhouse Gas Emissions Trading Act and the Greenhouse Gas Emissions Trading Regulation.

• EU ETS Directive
  Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a system for greenhouse gas emission allowance trading within the Union and amending Council Directive 96/61/EC 
• MRV Regulation
  Regulation (EU) 2015/757 of the European Parliament and of the Council of 29 April 2015 on the monitoring, reporting and verification of greenhouse gas emissions from maritime transport, and amending Directive 2009/16/EC
• Greenhouse Gas Emissions Trading Act
  N: Lov 17. desember 2004 nr. 99 om kvoteplikt og handel med kvoter for utslipp av klimagasser (klimakvoteloven)
• Greenhouse Gas Emissions Trading Regulation 
  N: Forskrift 23. desember 2004 nr. 1851 om kvoteplikt og handel med kvoter for utslipp av klimagasser (klimakvoteforskriften)