Cyprus Shipping Chamber delves into emissions trading system

The Cyprus Shipping Chamber (Kne) this week held a meeting focused on the regulatory framework governing the EU Emissions Trading System (EU ETS), which came into effect on January 1, 2024.

The meeting, which was specifically aimed at its member companies, thoroughly examined the obligations that this new system imposes on shipping companies.

In addition to the initial overview, the day commenced with a comprehensive presentation by the Ministry of Agriculture, Rural Development and Environment.

Importantly, this department serves as the Managing Authority of the EU ETS in Cyprus, and the presentation was centred on compliance with the relevant Community Regulations.

Following this insightful presentation, there were strategic group meetings between participants and service providers, all of whom are esteemed members of the chamber.

During these sessions, they presented relevant solutions to the challenges arising from the implementation of the EU ETS, thereby enhancing the collaborative spirit of the meeting.

It is worth noting that the entire day was marked by its informative nature and the high level of participation.

This event successfully brought together representatives from seven service providers and more than a hundred executives from the chamber’s member companies, highlighting the importance of the EU ETS and the collective effort to address its implications.