April 5, 2024

The ESG Shipping Awards proudly concluded its recent event: “ETS in Action: Bridging the Gap Between Traders & Engineers,” held on March 29, 2024, at the Grand Hyatt Athens.
This workshop, aimed at promoting sustainability in the maritime sector, focused on the pivotal role of the Emissions Trading System (ETS) in aligning trader and engineer efforts towards compliance and cost-effective strategies. Led by ETS and industry experts, the workshop provided attendees with invaluable insights into emissions trading dynamics, regulatory frameworks, and practical implementation strategies, enhancing proficiency in emissions management.
The success of “ETS in Action: Bridging the Gap Between Traders & Engineers” underscores collaborative efforts in addressing environmental challenges in the maritime sector, reaffirming the ESG Shipping Awards’ commitment to sustainability.

Key points:
• Mr. Manolis Koutoulakis, Secretary General of the Ministry of Maritime Affairs and Insular Policy, highlighted the importance of the ESG Shipping Awards in promoting sustainable development awareness among shipping companies and the ministry’s support for sustainable initiatives.
• Dr. George Pateras, President of the Hellenic Chamber of Shipping, discussed potential risks associated with the ETS for shipowners, emphasizing the need for additional EUAs.
Maruxa Heras, Head of Shipping & Miller Wells, Carbon Market Specialist at Global Factor, addressed challenges in allocating responsibility and cost within the maritime industry for EU ETS implementation and emphasized the dynamic nature of EU ETS prices and the need for monitoring and response.
Antoniadis Konstantinos, Managing Partner at Emicert, highlighted the EU ETS’s scale and role in transitioning to sustainable fuels.
George Zisis-Tegos, Head of the Department for Market Mechanisms and GHG Emission Registry, Ministry of Environment and Energy, outlined the EU ETS’s implementation in the shipping industry.
Christos Kontorouchas, Head of Unit for Shipping Policy at the Hellenic Coast Guard, discussed Greece’s unique pursuit of liability transfer provisions within the EU ETS.
Costas Constantinou, from Moore’s Global Leadership, compared the ETS to financial instruments and stressed the importance of CFO role in ETS management.

Nikolaos Gouvalas, Carbon Market Specialist, Country Manager for Greece & Cyprus at Global Factor highlighted demand’s role in shaping ETS prices.
Ioannis Gemelos, Superintendent Engineer at Diana Shipping Services S.A.,  recognized the commercial implications of the ETS beyond technical aspects.
Leonidas Margetis, Environmental & Sustainability Manager at Tsakos Shipping & Trading S.A., emphasized the transitional phase in ETS implementation and the importance of proactive strategies.
• Christos G. Timagenis, Attorney-at-law at Timagenis Law firm, underscored significant legal risks and resource requirements for ETS compliance.

Sponsored by Global Factor & Moderated by Helena Athoussaki, Principal Organizer of the ESG Shipping Awards the workshop served as a crucial platform for fostering collaboration in the journey towards a more sustainable maritime industry.

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