Nine leading companies in the maritime industry have issued a joint statement emphasizing their dedication to the development and implementation of robust book and claim chain of custody systems. These systems aim to accelerate the early stages of decarbonization in shipping.
The signatories of the statement consist of Aspen Shipping Decarbonization Initiative, DHL Global Forwarding, Hapag Lloyd, Kuehne + Nagel, NORDEN, Oldendorff Carriers, ONE, Torvald Klaveness, and Yara Clean Ammonia. These companies are part of the Getting to Zero coalition, which focuses on achieving complete decarbonization of the shipping sector and has been exploring book and claim chain of custody approaches.
The book and claim chain of custody systems will enable the separation of emission profiles of zero- and near zero-emission fuels from their physical flow within the transportation supply chain. This separation allows for early action towards decarbonization, even when these fuels and vessels are in limited supply. It enables decarbonization efforts to be disconnected from the physical transportation of cargo.
In a book and claim system, the environmental benefits of zero- and near-zero emission fuels are tracked and transferred across the maritime value chain. This means that one party can purchase a specific quantity of such fuel, “book” it, and subsequently “claim” the environmental benefits associated with it, even if another shipper physically uses the fuel in a different location.
These systems are expected to generate early demand from shippers and cargo owners, helping shipowners and fuel providers develop a business case for decarbonization while the most favorable fuel pathways are still being determined.
To ensure the success of book and claim chain of custody systems, the signatories commit to various actions. They will collaborate to establish clear and consistent rules whenever possible, maintain high standards of environmental, social, and commercial integrity, and encourage non-industry actors like the Greenhouse Gas Protocol and the Science Based Targets initiative to recognize book and claim approaches as credible emissions reductions.
To prevent conflicts between regulations established by the International Maritime Organization (IMO) and book and claim systems, the partners argue that the IMO should adopt a well-to-wake accounting of greenhouse gases, covering the full life cycle. The joint statement urges the IMO to implement well-to-wake accounting in its policy measures for decarbonization.
Through this joint statement, the signatory companies commit to working closely together to address the challenges associated with effectively implementing book and claim systems. The aim is to make these systems transparent, well-aligned, and environmentally credible for customers and stakeholders. The statement also calls for other key players, such as the Greenhouse Gas Protocol, to create a pathway for accepting book and claim approaches, emphasizing the urgency of these actions.
Source: Offshore-energy.biz / World Maritime News
