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Werner explained that the EU is a member of the Basel Agreement but not a signatory to the Hong Kong Convention. Rather, it has implemented its own regulation, the Responsible Ship Recycling Regulation, which marks a significant change in the EU’s approach to compliance.

“EU rules on waste shipments and strict scrutiny of non-compliant companies herald a new era of accountability and control,” he told delegates. “This change will undoubtedly have global implications as companies with a vested interest in the EU market will have to comply with these stringent regulations.

“Moreover, the potential EU alignment with Hong Kong regulations creates a unique opportunity for the industry to support a global standard that will benefit all stakeholders,” he said.

“The era of exploiting legal loopholes and circumventing regulations is ending,” he added. “It is time for the industry to adapt and actively engage with the regulatory superpower that is Brussels.

“The key to success is building a better connection with the EU and informing it about the economic realities and challenges we face,” he said. “This is not about lobbying, but about fostering a productive dialogue that will benefit all parties involved in recycling.”