ATTN: ALL FULL MEMBERS
Dear Full Members of INTERCARGO,
You may find here below a summary of latest EU developments and the EU Fit 55 Policy Package.
A brief containing more details is also enclosed.
MARITIME SAFETY PACKAGE
On 1st June, the Commission published the Maritime Safety Package, including the updated EMSA mandate that seeks to align the Agency’s activities for a sustainable and smart mobility strategy adopted in December 2020 and with the “Fit for 55” package, among other objectives , and which proposes the revision among other Directives related to :
(i.e: to extend the scope of the directive and include BWM Convention , add environmental parameters which will be taken into account to establish the ship risk profile, ships which are category D-E shall be considered as posing a higher risk, encourage to use electronic certificates)
- compliance with flag State requirements
(i.e: bring it in line with IMO instruments, Integrate the provisions of the IMO Instruments Implementation Code (III Code), Introduce safety and pollution prevention requirements)
- ship-source pollution and on the introduction of penalties, including criminal penalties, for pollution offences
(i.e: Include, discharges of harmful substances, sewage (MARPOL Annex IV), garbage (MARPOL Annex V), as well as discharge waters and residues from Exhaust Gas Cleaning Systems (wet scrubbers) (MARPOL Annex VI))
More details can be found in the enclosed document along with the texts and a preliminary analysis on the above
EU ETS
A consolidated version of the EU ETS Directive was released.
- The text can be found in all EU languages at the following link: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02003L0087-20230605.
Please note that this text is meant purely as a documentation tool and has no legal effect.
FUEL EU MARITIME
On 11 July, the Plenary of the European Parliament adopted the FuelEU maritime regulation.
- The text can be found in the following link : https://data.consilium.europa.eu/doc/document/PE-26-2023-INIT/en/pdf
- The Commission has already started to work on the delegated and implementing acts with DG MOVE and DG CLIMA having opposing views on how low-GHG fuels used in international voyages should be counted towards the yearly average GHG intensity of the energy used on-board under FuelEU maritime. More details enclosed.
- The new rules will apply from 1 January 2025
BASEL III RULES
An agreement on the Basel III rules was reached between the European Parliament and the Council end of June that gives explicit recognition to ship finance.
- The new rules will allow banks to apply preferential treatment to shipping portfolios on specialized lending when calculating risk weights and ultimately their capital requirements.
- As a result, the new law will enable banks to finance at a competitive price.
- More details can be found in the following link: https://www.consilium.europa.eu/en/press/press-releases/2022/11/08/banking-sector-council-agrees-its-position-on-the-implementation-of-basel-iii-reforms/
- The new law will have to be formally approved by the Plenary of the European Parliament and the Council in the following months.
ALTERNATIVE FUELS INFRASTRUCTURE REGULATION (AFIR)
The EU Council adopted the new regulation.
- The text can be found in the following link: https://data.consilium.europa.eu/doc/document/PE-25-2023-INIT/en/pdf
- The new regulation will be published in the EU’s official journal after the summer and will enter into force the twentieth day after this publication. The new rules will apply from six months after the date of entry into force of the regulation.
EU TAXONOMY
On 13 June 2023, the European Commission approved in principle the amendments to Taxonomy Delegated Acts and among others the first Taxonomy Environmental Delegated Act (TDA1),
- The amendments to TDA1 provides additional technical screening criteria for maritime transport for after 2025 including criteria based on the life-cycle approach.
- Compared to the draft TDA1 that was also consulted on in April 2023, an additional criterion was added to address methane slip.
- More details and the texts may be found in the following link: https://finance.ec.europa.eu/publications/sustainable-finance-package-2023_en
- It is expected that the delegated acts will be published in the Official Journal and enter into force by the end of 2023.
CORPORATE SUSTAINABILITY DUE DILIGENCE DIRECTIVE
On 1st June the European Parliament formally adopted in plenary the Corporate Sustainability Due Diligence Directive (366 votes in favor, 225 votes against and 38 abstentions).
- The final text is be available in English on the Parliament’s website via the following link: https://www.europarl.europa.eu/doceo/document/TA-9-2023-0209_EN.html
- The scope of the Directive covers companies with more than 250 employees and a turnover of at least €40 million.
- The European Commission, the Parliament and the Council have started the final talks to turn the proposal into law.
Kind regards
Emmanuel Vergetis
Regional Representative
Athens- Greece
