By 2030, the IMO has set the target of reducing CO2 intensity from shipping by 40% over the 2008 benchmark. So, how is the industry navigating through these changes and aiming for these targets? In part-4 of our special series on digital decarbonisation, we look at how the industry is managing its decarbonisation targets through measurement, reporting, and verification (MRV) systems.
Climate change mitigation is increasingly featured in global policy and regulation. The debate over whether human-made GHG emissions have a net detrimental impact on climate has reached a conclusion and courses of action towards reducing harmful emissions from human activity have been set.
The International Maritime Organization’s reduction targets for marine greenhouse gas emissions, set against a 2008 benchmark, are an ambitious but necessary response to shipping’s growing environmental impact. With the IMO seeking a minimum reduction in marine GHG emissions of 50% by 2050, and a 70% reduction in the carbon intensity of emissions by the same year, the industry must act quickly and decisively to improve the sustainability of its operations.
However, there is no shortcut or silver bullet to achieving such objectives. Maritime decarbonisation will rely on changes in attitudes and behaviour; collaboration between governments and industry stakeholders; the introduction of – and widespread compliance with – further, shorter-term regulations; and the continued development and implementation of novel technologies and processes designed to deliver efficiency gains across all areas of vessel operations.
The introduction of measurement, reporting, and verification (MRV) systems within the industry sector has presented a strategic initial approach for stakeholders to ensure the progressive reduction of the maritime industry’s emissions. Through a structured approach for gathering the data from ships and other carbon-emitting assets, companies will be able to measure their current performance against recognised benchmarks such as the EEXI and CII.
Ideally, these measurements should be also automated by working with an IoT platform to ensure that data is consistent, comprehensive, and comparable.
By optimising the pathway to decarbonisation using digital technologies and connectivity, shipping wins commercially, societally, and environmentally by increasing profitability, regaining social credibility, and doing the right thing by helping to reduce chemical stress on global climate systems
The focus for the reporting process varies from one system to another, but will primarily include the distance travelled and the fuel consumed by the ship. These factors, together with other factors such as the cargo transported and the time spent during navigation are also used in various MRV systems in creating an accurate picture of the global merchant fleet’s decarbonisation trajectory. In order to ensure the accuracy of the reported information and the quality of the data being presented, the verification process involves the audit of the emission reports and the associated documentation. The introduction of these systems ushers in the growing importance of environmental performance management amongst ship operators and ship managers. By optimising the pathway to decarbonisation using digital technologies and connectivity, shipping wins commercially, societally, and environmentally by increasing profitability, regaining social credibility, and doing the right thing by helping to reduce chemical stress on global climate systems.
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DIGITAL DECARBONISATION SERIES
In partnership with Inmarsat, Thetius launched a major report on digital decarbonisation at the Nor-Shipping conference in April 2022 to critical acclaim. Read by thousands of industry professionals across the globe, The Optimal Route examines the impact of digital technologies on the trajectory of decarbonisation in shipping.
Based on the findings of this research, we have put together a new series of articles on digital decarbonisation which will be released to our subscribers over the coming weeks. Each article will zoom in on an aspect of digital decarbonisation and together will provide a jam-packed analysis that includes the latest and greatest examples of how digital technologies can prove the difference between success and failure in decarbonising the ocean supply chain.
Download your copy for free @ https://thetius.com/the-optimal-route