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.
Carbon Credits for the Marine Industry
AkzoNobel 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
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 that already coated with Intersleek® qualifies.
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.
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.
About 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.
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