Assurance and risk management expert DNV has awarded its first commercial verification for biofuel insetting–the use of biofuels instead of fossil fuels in a company’s supply chain–to global shipping company Wallenius Wilhelmsen.
DNV worked with Wallenius Wilhelmsen to verify the greenhouse gas (GHG) reductions it achieved by using 100% biofuel (B100) onboard its vessel, MV Morning Post. Bunkering B100 at Port of Antwerp-Bruges, the vessel consumed the biofuel over its scheduled voyage, resulting in a reduction of 90% CO2 equivalent on a well-to-wake basis.
The shipping industry contributes roughly 3% of global greenhouse gas (GHG) emissions, primarily through the burning of fossil fuels. B100, a biodiesel made from vegetable oils, animal fats, or recycled restaurant grease, is a renewable, biodegradable fuel that’s used to power compression-ignition engines.
“In the absence of global standards, or a global accounting database for the approach, the industry needs trusted and independent assessments of these processes to ensure that emission reductions are fairly calculated and accurately tracked,” said Morten A. Lerø, Managing Director of DNV Maritime Advisory. “For shipping companies, their customers need to trust that their sustainability drivers are backed up by rigorous standards and real, measurable outcomes.”
“Biofuel insetting is emerging as an important new solution for companies aiming to reduce their carbon footprint, alongside meeting the increasing strict national and international regulatory targets,” he said. “But it also has the potential to create new business models, enhancing and expanding the market for green and sustainable services.”
Jørgen Westrum Thorsen, Senior Manager Sustainability, Wallenius Wilhelmsen said the company has committed to reaching net zero by 2040.
“Our ambition is to lead the transformation of our industry towards a decarbonized future and the increased utilization of sustainable biofuel will play a part in getting us there,” he said.
Presentation of the certificate at SMM Hamburg 2024. From left: Guilherme Romar Borzacchiello, Environmental Engineer at DNV; Benjamin Witt, Principal Environmental Compliance Director at DNV; Joris Vernhaag, Senior Manager High & Heavy Breakbulk Germany at Wallenius Wilhelmsen; Morten Lerø, Managing Director Advisory at DNV; Olaf Doerk, Head of Advisory Centre Hamburg at DNV.
