Danish shipping company D/S NORDEN has entered into a sustainable maritime fuel agreement with Meta for an undisclosed amount of carbon credits through NORDEN’s Book & Claim system.
Through Book & Claim, a customer can pay for a NORDEN operated vessel to use biofuel instead of fossil fuels and then claim the emission reduction for themselves. This system is designed to help increase the demand for, and availability of, sustainable shipping fuels at a time when production and distribution of the fuels are still nascent.
“Our Book & Claim solution allows customers of marine transportation across the globe to take advantage of emissions reductions from biofuels, even when biofuels are not physically available to be bunkered on a specific trading route or voyage,” said Anne Jensen, Chief Operating Officer of NORDEN.
Making sure the emissions are actually achieved and appropriately credited depends on the system NORDEN follows, the Smart Freight Centre’s Voluntary Market Bases Measure Framework for Logistics Emissions Accounting and Reporting. The company said its ISCC-certified biofuel has 80-90% life cycle emission reduction potential and is a drop-in substitute for fossil fuels that can be used by existing vessels. The emissions reduction is authenticated by an independent verifier, Normec Verifavia, and transacted on an external registry through 123Carbon.
“At Meta, we have a goal to reach net zero emissions across our value chain in 2030,” said Devon Lake, Head of Net Zero Strategy at Meta. “To achieve that goal, we’re working to address emissions sources across the supply chain – including the upstream emissions associated with the maritime transportation of supply chain goods such as computing equipment and construction materials. Innovative solutions such as those that NORDEN is providing are critical for companies like Meta to decarbonise our value chain at the pace and scale required to achieve our emissions reduction targets.”
