Page 126 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΜΑΙΟΣ 2023

MARITIME POLICY

On 8 March 2023, the European Maritime Law Organisation (EMLO), an independent forum
for debate and research on EU maritime law affairs, devoted a second webinar to mari-
time taxonomy. Dr Anna Bredima, Senior Policy Advisor on European Affairs, Cyprus Union
of Shipowners, interviewed Dr Katalin Dobranszky, Senior Director of Innovation, Fi-
nance, and Fiscal Affairs, European Community Shipowners Associations.

TAXONOMY AND ITS

EFFECTS ON SHIPOWNERS,

SHIP FINANCING,

MARINE INSURERS AND

CHARTERERS

In 2020, the European Commission (EC) adopted a regulatory frame-
work to facilitate sustainable investment, known as the European Tax-
onomy Regulation, which is part of a horizontal legislative package
on sustainable finance aiming to contribute to the European Green
Deal (2020). Taxonomy comes from the Greek word “taxinomia,” mean-
ing “the science of classification”. The European Taxonomy Regulation
defines which economic activities are considered green for investment
purposes. A offered insight into legislative developments and the chal-
Dr. Anna Bredima, lenges and opportunities faced by shipping as a sector in transition.
Senior Policy Advisor on European In the following discussion, Finance expert Dr Katalin Dobranszky will
Affairs, Cyprus Union of Shipowners
guide us through the legal maze of taxonomy.

A.M. The European Taxonomy Regulation (852/2020) provides the framework,
but the details are defined via delegated regulation. What additional
regulatory acts have been adopted?
K.D. Article 8 Delegated Act defines the reporting requirements of taxon-
omy-eligible and taxonomy-aligned economic activities, which are to
be calculated in terms of turnover, CAPEX, and OPEX.
The Environmental Delegated Act (TDA1) recognises that shipping can
substantially contribute to climate change mitigation and defines the
technical screening criteria (TSC) for vessels. Vessels are considered
green if they have zero tailpipe emissions -or comply with somewhat
less stringent transitional criteria until 2025- and are not dedicated
to fossil fuel transport. If the transitional criteria are not extended
beyond 2025, only vessels with zero tailpipe emissions will be defined
Dr. Katalin Dobranszky, as green, creating difficulties given the currently available technology.
Senior Director of Innovation, Finance, An amendment to TDA1 addressing transitional criteria post-2025 is in
and Fiscal Affairs, European Community
Shipowners Associations the pipeline. On the other hand, the restrictions on cargo carried are

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