MarinaChain’s Post

We from the Brunei Shell Petroleum Co. Sdn. Bhd. Environmental Affairs Team had a productive discussion today with the Brunei Climate Change Office (BCCO) on aligning our GHG emissions reporting metrics with the standards set by the Intergovernmental Panel on Climate Change (IPCC). While carbon accounting may seem like a small detail in the larger fight against climate change, it is a crucial step in ensuring transparency, accuracy, and consistency in our data. This alignment is key not only for tracking our emissions reduction progress but also for positioning Brunei on the path to achieving net zero by 2050. 🌍 A big thanks to Za'iem Halbi, CEng MIMechE and the rest of the team for the fruitful discussion! #ClimateAction #Sustainability #GHGAccounting #NetZero #IPCC #Brunei

COP provides an opportunity to stress the importance of cooperation with the energy and financial sectors as well as with cargo owners International Maritime Organization #imo #internationalmaritimeorganization #rules #regulations #RobbanAssafina

💡 Fixing a major loophole in CBAM    🌍The Carbon Border Adjustment Mechanism (CBAM) has the potential to be a game-changer in climate policy, by pricing carbon effectively in Europe while preventing carbon leakage.    However, it currently fails to assign equal carbon costs to imported aluminum products compared to those produced in Europe, as it exempts emissions from re-melted industrial scrap.    ⚠This allows re-melted aluminum to enter the EU without CBAM costs, opening the door to resource shuffling and undermining CBAM credibility and the competitiveness of the European aluminum industry.    Decision makers can close this loophole, by: 🔸 Assigning equal emissions for re-melted scraps   🔸 Including aluminum scrap in CBAM   🔸 Implementing verification and certification    📃 Together with Norsk Hydro, Alcoa and Sandbag, Bellona Europa addresses this issue in an op-ed article, published on Carbon Pulse.    🌍Bellona Europa is also part of Dg Taxud CBAM Informal Expert Group and will contribute to ensuring the design of a CBAM that works for the climate first.    Read the full article 🔎 https://lnkd.in/drPV9UwR    #CBAM #decarbonisation #climateaction #sustainableeconomy #climateactionnow #climatepolicy #EUPolicy 

Solutions for Our Climate (기후솔루션) just published a brief report on the Limitations of LNG in Shipping Decarbonization August 2024 Under increasing environmental regulations from the International Maritime Organization and the #EU, the shipping industry is pressured to bear significant responsibility in reducing #GHG emissions globally. This is further underscored by #SouthKorea's commitment to achieving net zero by 2050, as outlined in the Ministry of Oceans and Fisheries (MOF) 's Strategy for International #Shipping Decarbonization, announced in February 2023. Under the guise of reducing GHG emissions, #LNG is considered an environmentally friendly interim fuel, and many countries, including South Korea, are ordering LNG-powered vessels and expanding the #LNGbunkering market. However, LNG is a #fossilfuel, mainly consisting of methane, and, therefore, cannot achieve substantial GHG emissions reduction compared to conventional petroleum-based fuels on a lifecycle assessment basis. The benefits of LNG are diminished with the adoption of the Well-to-Wake standard in many international regulations. In addition, the infrastructure secured for LNG bunkering will likely be obsolete in 20 years, exposing it to higher stranded asset risk. In this brief, SFOC examines the South Korean government's decarbonization policy and support for the shipping industry, particularly its reliance on LNG. The brief also recommends immediate and decisive actions that need to be considered to realize the 60% GHG emission reduction declared in MOF's Strategy for International Shipping Decarbonization. Osama Fawzy Georgy HENEIN, MBA

🚢 FuelEU Maritime: Navigating the Future of Bunker Fuel Procurement Yesterday, I had the pleasure of attending the first session of the two-day virtual event organized by BS Group on June 20th and 27th, "Fuel EU Maritime: The Countdown for Optimizing Bunker Procurement." The session was both insightful and a significant eye-opener in the realm of shipping and maritime fuel management. The FuelEU Maritime directive stands as a transformative initiative, poised to revolutionize bunker fuel procurement by addressing environmental concerns and reshaping the core framework of vessel fueling. The session provided a comprehensive overview of FuelEU Maritime, delving into market dynamics and its profound impact on bunker fuel procurement. 🔵 Key Provisions of the FuelEU Maritime Directive 1. Gradual Decrease in GHG Intensity: Targeting a 2% reduction by 2025 and aiming for an 80% reduction by 2050.     2. Incentives for High Decarbonisation Fuels: Special incentives to boost the uptake of renewable fuels of non-biological origin (RFNBO). 3. Exclusion of Fossil Fuels: Steering the industry away from traditional, high-emission fuel sources. 4. On-Shore Power Supply Obligation: From 2030, passenger ships and containers must use on-shore power supply at major EU ports. 5. Voluntary Pooling Mechanism: Ships can pool their compliance balance with others to meet GHG intensity limits on average. 6. Time-Limited Exceptions: Tailored exceptions for outermost regions, small islands, and economically dependent regions. 7. FuelEU Penalties: Revenues from penalties will fund projects supporting maritime sector decarbonization. 8. Regulation Monitoring: Implementation through a robust reporting and review process. 🔵 Impact and Strategic Planning The discussion highlighted the intricate methodologies and significant impact expected over the next five years. Buyers must devise compliance strategies as the ultimate goal is substantial GHG reduction. Embracing renewable and low-carbon fuels is essential to minimizing the maritime sector's carbon footprint within the EU. The session underscored the critical role FuelEU Maritime will play in our journey towards a greener, more sustainable maritime industry. I am eagerly looking forward to the next session on June 27th, where we will dive deeper into this transformative initiative. 🔵 Stay tuned for more updates and insights! 🌍⚓ #FuelEU #Maritime #Sustainability #BunkerProcurement #GreenShipping #Fitfor55 #Decarbonization #RenewableFuels #MaritimeIndustry #EnvironmentalImpact #BSGroup

Some interesting info about how we can decarbonise shipping, and the time value of carbon! 🚢 Speaking the Asia Pacific Petroleum Conference (APPEC) in Singapore on Wednesday, Andrea Olivi, our Head of Wet Freight struck a positive tone on the adoption of low-emission shipping fuels, highlighting how policymakers are fostering innovation to reduce the maritime industry’s dependence on fossil fuels.   "We're engaging with shipyards, producers, shipowners—essentially everyone along the value chain—and things are looking promising," said Andrea.   Andrea emphasized that policies like FuelEU Maritime, which focus on cutting greenhouse gas emissions in the maritime sector, are boosting industry confidence to invest in the next generation of shipping fuels.   "The EU has done an outstanding job. In fact, FuelEU Maritime played a crucial role in our decision to order four dual-fuel ammonia vessels, which are expected to be delivered between 2027 and 2028."   Under the FuelEU Maritime framework, ships that fail to meet emission standards will face penalties, with funds collected from fines reinvested into research and development for cleaner fuels. Shipping currently accounts for around 3% of global greenhouse gas emissions. You can read more about our approach to shipping decarbonisation here: https://lnkd.in/d6qFtNmC #APPEC2024 #OOTT #shipping #decarbonisation #ammonia #lowemissionfuels #regulation #bunkering #emissions

I have just finished reading the Global Maritime Forum Getting to Zero Coalition's 'Annual Progress Report on Green Shipping Corridors' (GSC), which was launched yesterday. It would have been good if I'd had access to it before the National Maritime #SOCSEA event, earlier this year (bit it wasn't written then). One of the elements that all the panellists at that event agreed on, was that there is a pretty broad spectrum of ambition in the declared GSCs to date; which can be seen in this report: https://lnkd.in/epvxRZCF . Key points from the report: - There is a risk of GSCs hitting a 'feasibility wall' if economic challenges are not resolved - 18 new GSC initiatives have emerged since the 2023 report, bringing the total to 62 (see the map and list on page 10) - At least 6 of these have progressed beyond feasibility towards real-world implementation - The front runners are focusing on fuel supply and economics (which is not surprising) - Customer demand and voluntary action are expected to support the economics - Projects v attempting to deliver investments - The fuel pathway is interesting, Methanol is out in front (just) then electric and ammonia (tied), methane, hydrogen, advanced biofuel tied with other - Whilst Governments and Public Agencies (46) are involved in GSCs, there are more Port Authorities (55) involved and Research/Third sector (45) make up more than vessel owner/operators (35), then fuel producers (20), customer/cargo owner (13), Classification society (6), financial institution (6) and other (18). Report conclusions: 1. Public support is needed to bridge the fuel cost gap 2. Stakeholders must take advantage of GSCs as spaces for innovative commercial arrangements 3. GSC initiatives need to be adopt a more flexible approach to governance 4. There is a need to identify what policies and sources of finance can support GSC and associated fuel supply chains in the global south 5. We need to get behind exiting initiatives and leverage the growing body of good practice #GreenShippingCorridors #GettingToZeroCoalition #EnergyTransition #MaritimeSustainability #AlternativeFuels #ActionIsRequired

🆕 UNIDO and the Ministry of Development, Industry and Foreign Trade (MDIC) of 🇧🇷#Brazil have launched a new project under the Partnership for Net Zero Industry Programme. This initiative aims to support Brazil in the development of the Industry, Cement and Steel Sectoral Mitigation Plans, with a budget allocation of around €1.5 million. UNIDO Managing Director Ciyong ZOU and Rodrigo Rollemberg, Secretary of Green Economy, Decarbonization and Bioindustry at MDIC, discussed UNIDO’s engagement within the newly launched Brazil Industrial Decarbonization Hub (ID Hub). They discussed the broader work on #decarbonization, underscoring the mutual commitment to driving forward an agenda in Brazil. Read the full article here ✍️ https://lnkd.in/enPqSmFg #cement #steel #netzero #climateaction #climatesolutions Green Climate Fund, International Climate Initiative

Decarbonisation or Deindustrialisation? The CBAM Challenge [Promoted content]: The Carbon Border Adjustment Mechanism (CBAM) must safeguard Europe’s aluminium industry by focusing on direct emissions, covering downstream products, and upholding protections against carbon leakage to prevent outsourcing emissions and production beyond Europe’s borders.

As global seaborne trade reaches new heights, the shipping industry faces growing pressure to reduce GHG emissions. With the IMO's ambitious targets, how can the GCC lead the way in maritime sustainability? Discover how the region’s petrochemical producers can spearhead this crucial transition and the strategies required to overcome existing challenges in my latest article. Read more about the GCC's potential in low-carbon maritime fuel adoption and the vital role of collaboration and innovation. #Sustainability #MaritimeDecarbonization #GCC #AlternativeFuels #EnvironmentalImpact #GPCA #ShippingIndustry #LNG #Ammonia #Hydrogen #Methanol #IMO