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Carbon Credits - A Marine Industry First

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 gas emissions.

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
carbon market.

Further benefits include:
  • Assistance with cash flow through regular carbon
    or cash credits
  • Operational cost reduction for fleet
  • Voluntarily offset other sources of carbon
    emissions within your organisation
  • They are transferable and therefore can be
    donated, for example, to charitable foundations
  • Sustainability leadership and visibility
First 

approved

What value are carbon credits?

Carbon credits generated from approved Gold Standard
methodologies are considered high quality due to the strict eligibility
requirements and the rigour employed in approving methodologies. As a
result, carbon credits generated from Gold Standard methodologies
carry higher than average value on the voluntary market.

Qualifying for carbon credits

To qualify, a vessel needs to be converted from a traditional biocide-containing
antifouling to Intersleek® during routine drydocking. Those vessels already
coated with Intersleek® already qualify

Approved methodology

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 Intersleek®

Carbon credits are generated through independent validation of improved fuel
consumption which can be achieved through the use of Intersleek® technology.
The carbon credits generated are directly related to reduced greenhouse gas
emissions as a result of lower fuel consumption.

About Intersleek®

Intersleek®1100SR is the industry's first biocide-free, slime release coating featuring new
patented fluoropolymer technology. Its tailored surface chemistry specifically influences
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.

The 

process

quote 2About the Gold Standard

For ten years, The Gold Standard has pioneered the way climate change is addressed. Its 'results based finance' approach - in which individuals, corporations and governments buy credits against verified emission reductions and sustainable development outcomes - has channelled billions of Euros into 1000 low carbon development projects. The Gold Standard was established in 2003 by WWF and has more than 80 partners worldwide.

Gold Standard

More to explore

Download the Carbon Credits brochure Slime 

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