The Regulation (EU) 2015/757 of 29th April 2015 (MRV Regulation) introduced a European-level system for the monitoring, reporting and verification (MRV system) of CO2 emissions from sea transport, or shipping. Its aim is to increase transparency about emissions produced from shipping and to create an incentive to reduce them.
Since 1st January 2018, shipowners have been required to monitor and report CO2 emissions from ships weighing more than 5000 GT. These rules apply to CO2 emissions from the voyages of ships that arrive at ports which are under the jurisdiction of a Member-State, and which sail into them or set sail from them.
The European MRV system also covers other information that helps to determine the efficiency of ships or to analyse the factors underlying the evolution of emissions, with a view to encouraging the reduction of CO2 emissions from sea transport and shipping in a cost-effective way.
The communication and publication of information should be done annually, and monitoring must be carried out by independent verifiers, such as APCER, to ensure that the monitoring plans and emission reports are correct and that they comply with requirements in this regulation.
A "document of compliance" issued by a verifier must be kept on board ships to demonstrate compliance with these obligations.
As of 2019, and by 30th April each year, Companies must submit a Satisfactorily Verified Emissions Report for each ship to the European Commission, using the THETIS MRV.