The changing landscape
The EU Emissions Trading System (EU ETS) now includes shipping, extending EU MRV regulations to new vessels, gases, and introducing the company compliance report. If you manage a fleet, you need to collect and report with the right data for compliance, as well as surrender emissions allowances for all your vessels.
Are you prepared?
As the technical manager, you'll also need to handle EU allowances based on emissions. In short, you must pay for your emissions. Which is why you should update your contracts to pass this cost on to the ship owner, and provide verified emission data as proof to receive that compensation.
Are you prepared to handle these transactions? Are you prepared to differentiate and share specific data at the fleet, ship and voyage level in order to receive compensation?
Turning challenges into opportunities
The EU ETS may seem like a burden, but it can be an opportunity. As a DoC holder, you're responsible for collecting emissions data. This data is crucial for your customers' customers, who'll ultimately pay for the emissions – which is in line with the ‘polluter pays’ principle. If you can make data transfer, live data verification, and report creation easy, you'll be the preferred partner.
Are you prepared to enable your customers and support them in receiving compensation from their customers? Are you prepared to share data so that it can be used by the ship owners towards their customers?
Emissions Connect: your ally in navigating the EU ETS challenges ahead
Emissions Connect is a tool to help you navigate these challenges. It integrates data, manages it robustly, and provides analytics as well as verified statements to help your operations and facilitate ETS settlement.
Starting with the Veracity Integration Partner network, data is fed into the data workbench, from where Emissions Connect enables data sharing, provides verified data at any interval, and offers the customer verified emissions statements to support the trusted settlement of EU allowances across the value chain.
In summary, ship managers can now enable the entire maritime value chain to manage settlement of EU allowance liabilities with confidence. By choosing the right platform, you can reduce uncertainty and provide a competitive edge for your customers. And there is more to come - with Emissions Connect you are laying the foundation for managing your emissions data along your business needs.
Are you ready to seize these opportunities?