What are carbon credits?
Carbon Credits are financial instruments of measurement where one credit represents one tonne of Carbon Dioxide equivalent either removed or prevented from entering the atmosphere. They were created to promote the use of carbon-reducing technologies through the generation of revenue by reducing greenhouse gas emissions.
They were created to promote the use of carbon-reducing
technologies through the generation of revenue by reducing greenhouse
Credits can be traded on the carbon markets in the same way as
stocks and shares and therefore have intrinsic value.
The two main sources of credits are the Compliance Market –
credits are issued by governments for compliance with carbon emission
reduction targets; and the
Voluntary Market – credits are issued against verified emission
levels by accredited agencies (e.g. The Gold Standard Foundation,
Verified Carbon Standard) and
can be traded on the compliance markets
Carbon credits in the marine industry
AkzoNobel's marine business, International, has worked with The Gold Standard
Foundation to create the first approved carbon credit
methodology in the marine industry!
The methodology is unique in that it is the only approved
carbon-credit generating methodology for moving articles
(i.e. ships) which are not geographically bound (all other
projects have strict territorial boundaries).
For the first time, shipping operators can be additionally
rewarded for investment in cleaner technologies through the
generation of carbon credits.
What carbon credits can do for you!
The generation of carbon credits can
enhance the environmental image of
your organisation as well as generating
revenue through emission savings or by
selling the credits on the voluntary
Further benefits include:
- Assistance with cash flow through regular carbon
- Operational cost reduction for fleet
- Voluntarily offset other sources of carbon
within your organisation
- They are transferable and therefore can be
example, to charitable foundations
- Sustainability leadership and visibility
What value are carbon credits?
Carbon credits generated from approved Gold Standard
methodologies are considered high quality due to the strict
requirements and the rigour employed in approving methodologies. As
result, carbon credits generated from Gold Standard
carry higher than average value on the voluntary market.
Qualifying for carbon credits
To qualify, a vessel needs to be converted from a traditional
antifouling to Intersleek® during routine drydocking. Those vessels
coated with Intersleek® already qualify
The Gold Standard approved methodology is based on data received from ships
which is then
translated into greenhouse gas emission savings. A baseline emission
level is determined
for the vessel prior to the application of Intersleek®. The same data
source is then used to
determine the emission savings after the application of
Carbon credits are generated through independent validation of
consumption which can be achieved through the use of Intersleek®
The carbon credits generated are directly related to reduced
emissions as a result of lower fuel consumption.
Intersleek®1100SR is the industry's first biocide-free, slime
release coating featuring new
patented fluoropolymer technology. Its tailored surface chemistry
the settlement and adhesion of organisms that make up slime. As a
result, all vessels can
benefit from reduced drag, improved fuel efficiency and reduced
CO2 emissions without
the use of biocides.