The minute
- Over 350 ships (bulk carriers and chemical tankers) are enrolled in the program, which analyzed more than 200 ship-years of real operational data
- The program expects to generate over 2.3 million tonnes of CO2 reductions at participating vessels’ next scheduled docking
- The methodology (developed with the MIT Sea Grant Design Laboratory) measures fuel and emissions savings from efficiency retrofits and converts them into Gold Standard credits, one credit per tonne of greenhouse gas reduced
Why it matters
It’s the first shipping carbon credit issuance under this specific Gold Standard methodology, creating a new revenue stream for shipowners who invest in efficiency retrofits — until now, maritime shipping has had few ways to directly monetize its own emissions cuts.
ClimeCo, founded in 2009, has reduced, avoided or removed more than 50 million tonnes of CO2e since it began operating, and will commercialize the credits generated by the program in the voluntary carbon market. via Carbon Credits
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