Green Marine partner RightShip has collaborated with CBL Markets to provide Incitec Pivot Limited (IPL), a global diversified chemicals manufacturer, with a way to make its required shipping a carbon neutral activity.
IPL became an early adopter of RightShip’s robust and verifiable Carbon Accounting tool launched in 2016 to measure its ship-sourced (scope 3) emissions. The company also took up RightShip’s direction to offset its shipping emissions by purchasing carbon credits through CBL Markets, a leading spot exchange for offsets. As a result, IPL has successfully offset approximately 73,000 tonnes of CO2 for its 2016-17 and 2017-18 financial years to make its shipping activities carbon neutral.
“Working with RightShip, we have been able to take proactive measures to quantify, manage and even offset carbon emissions from our shipping and chartering operations,” said Martin Gleeson, IPL’s national shipping and chartering manager. “This not only has significant environmental benefits but enables us to positively influence action on climate change in the maritime industry. »
Based on EU standard EN 16258 compliance, RightShip’s Carbon Accounting tool is part of an ongoing effort to help companies to accurately measure, monitor and manage emissions related to their business activities.
« More and more blue-chip companies want to measure their ship-sourced emissions and our verified carbon accounting process allows charterers to achieve this simply and cheaply,” said Kris Fumberger, RightShip’s sustainability manager. “The offsetting of almost 150,000 tonnes of carbon dioxide by IPL demonstrates real industry leadership. »
IPL’s carbon offsetting is supporting two verified carbon projects in China that support renewable energy generation and more efficient energy generation via natural gas respectively. The projects have a direct link to a region where IPL’s shipping operations have an environmental impact.