The MRV Regulation of the EU. Monitoring, Reporting and Verification of Carbon Dioxide Emissions from Maritime Transport

Seminar paper from the year 2017 in the subject Politics - International Politics - Topic: European Union, grade: 1,3, The FOM University of Applied Sciences, Hamburg, course: Business Law, language: English, abstract: This work examines the substance of the regulation 2015/757 on the monitoring, reporting and verification (MRV) of carbon dioxide emissions from maritime transport of the EU and its basis by the leading question: which regulatory interventions and creative compliance are to be seen behind the MRV regulation and what business case is possible? Therefore, the regulatory intervention in its public and private interest's dimension is investigated. Moreover, the recent situation of the shipping branch and the ships' ownership situation (owner-operator relation) are explained. A critical reflection of the regulation and an investigation for creative compliance is given. Concluding, potential business cases and the potential of the market are outlined. Since July 1st 2015, the European Union's (EU) regulation 2015/757 on the monitoring, reporting and verification (MRV) of carbon dioxide emissions from maritime transport became effective. According to EU 2015/757 art. 8, from 1 January 2018, ships voyaging to a port of call under the jurisdiction of a member state are obligated to apply to the regulation 2015/757 and must have a MRV system to report their CO2 emissions. By August 31th 2017, all shipping companies voyaging within the EU area are obligated to prepare a monitoring plan for each of their ships (EU 2015/757 art. 6).