Cyprus estimated to receive €73 million annually from shipping carbon revenue

Cyprus is estimated to receive €73 million a year in national carbon-market revenue linked to shipping, although substantially larger sums will flow to countries with much smaller maritime industries.

A new study by the European Community Shipowners’ Associations (ECSA) estimates that shipping will contribute around €9 billion annually to EU and national revenues if carbon allowances average €100 per tonne. Under a lower-price scenario of €85, the sector’s contribution would still reach...