Supporting our customers on their voyage to decarbonisation

On 1 January 2024, the EU extended the coverage of its Emissions Trading System to include emissions from all large ships (of 5,000 gross tonnage and above).  Matt Dunlop, Group Director of Sustainability and Decarbonisation at V.Group, discusses the impact of the new rules on the maritime sector and the initiatives V. is taking to support its customers on their decarbonisation journey.

The EU ETS was set up in 2005 with the aim of reducing greenhouse gas emissions. The scheme covers emissions across several sectors and from 1 January 2024, the maritime sector was included for the first time. This landmark initiative is a significant step towards achieving our collective environmental goals and commitments of reaching zero emissions in the sector by 2050. All vessel owners are now obliged to monitor and report CO2 emissions. Under the rules of the system, carbon allowances can be traded by companies in order to reach emission goals. For many shipowners, the prospect of the new carbon legislation is daunting and complex. There is no silver bullet.

Preparing for the new system

In preparation for the introduction of the scheme to the maritime sector, and to support customers as they transition towards net zero, V. Group has formed a strategic partnership with Aither, a specialist in providing carbon trading solutions for shipowners and other industries. As a global ship management and marine services provider, V. plays a vital role in supporting customers to be compliant with the new scheme, proactively monitoring developments and keeping them up to date with the latest guidance and solutions.

Aither partnership

Under the rules of the scheme, shipping companies can purchase carbon credits and have them deposited with the EU Registry. In response to the EU ETS and to ensure compliance with the EU’s Monitoring, Reporting and Verification regulation for shipping emissions, through its partnership with Aither, V. Group can arrange the monitoring and reporting of our customers emissions data to the administering authority through a dedicated online platform. Verified emissions data for vessels under technical management by V. is available to shipowners via V.Group’s digital platform ShipSure. The platform simplifies the journey for customers and ensures compliance with the new system.

Full support to ensure compliance

With 90% of world trade transported by sea, shipping accounts for almost 3% of the world’s CO2 emissions. The inclusion of the shipping sector in the EU ETS scheme means the need to ensure voyage optimization is even greater and to capture verified emissions data and work towards net zero is now essential. Shipowners can rest assured that V. has the expertise and experience to provide full support to ensure they comply with the new regulations and to make meaningful efforts to reduce emissions.

V.Group’s partnership with Aither is one of a number of strategic partnerships forged to support ship owners on their decarbonisation journeys. The Group has also partnered with the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping to help the industry transition to a net zero future with the centre undertaking research and development into alternative fuels and providing practical guidance. V.ERDE, launched by V. in 2023, offers customers a range of technology solutions to help vessel owners reach decarbonisation goals, setting out clear and achievable road maps.