The European Union is revising its emissions trading system to allow industry to emit CO2 for a longer period and grant companies more free carbon permits. This move is part of the bloc's efforts to overhaul its carbon market.
The proposed changes aim to make the system more flexible and sustainable for industries such as shipping and offshore energy. However, environmental groups have expressed concerns that the plans may undermine the EU's climate goals and create loopholes for polluters. The maritime academies and shipping industry will be closely watching the developments in the EU's carbon market overhaul.