Long term emission forecast for maritime sector to 2040

The maritime sector is one of those hard-to-abate sectors that must start to decarbonize eventually. The EU ETS provides an incentive to use less fuel and operate more efficiently, while the Fuel EU Maritime favours less carbon intensive fuels. As a pair these measures have moved decarbonization up on the agenda for shipping companies.Veyt estimates European maritime emissions, given the current ETS scope to decline from 85 MtCO2 in 2024 to 53 MtCO2 in 2040. We base the emission forecast on current trends for different ship types, as adjusted to reflect our assumptions on future economic growth, alternative fuel uptake and technological development.