The shipping industry contributes significantly to global carbon emissions, accounting for about 3% of the total. As the world grapples with climate change, the shipping industry is under pressure to reduce its carbon footprint and adopt more sustainable practices, according to Marine Insight.
Carbon Neutral Shipping
Achieving these figures might be challenging but shipping companies can follow a few methods like carbon-neutral shipping, which is a sustainable approach to shipping goods. This involves reducing the carbon footprint by using eco-friendly packaging for cargo, using waste reduction techniques and recycling, having solar-powered warehouses for storing goods, etc.
Carbon Offset Shipping
Another approach is Carbon offset Shipping which is about compensating for carbon emissions released when shipping cargo, by balancing them with actions to remove an equal amount of carbon dioxide from the atmosphere. This is done by investing in carbon offset projects which involve tree plantation drives, renewable energy projects etc.
Companies can neutralize their environmental impact and contribute to sustainable efforts by being a part of carbon offset programs.
Carbon Offsets
Many companies use carbon offsets and renewable energy credits as a part of their carbon neutrality strategy.
Going carbon neutral means measuring the company’s carbon footprint and finding measures to decrease those emissions. It also implies using carbon credits to offset the impact which cannot be eliminated.
Carbon offsets are investments a company makes in projects to keep carbon out of the atmosphere by decreasing, avoiding or capturing and storing carbon emissions.
Advantages of Carbon Offset Shipping
Corporate Responsibility
Carbon offsets are effective in helping curb the impact of carbon emissions generated by shipping activities and other technologies that make modern life comfortable.
Cost-Effective Solution
Investments in carbon offset projects are cost-effective as instead of making massive investments in new technologies, companies can buy offsets at a fraction of the cost.
Forging Sustainable Supply Chains
Carbon offsets for shipping allow collaboration across the supply chain as shippers can work with logistics providers and others to form achievable sustainability strategies to enhance the environmental performance of their operations.
Process of Carbon Offset Shipping
There are many steps involved in carbon offset shipping including:
Calculation of Emissions: Shipping Companies must first assess the carbon footprint of their operations, which includes fuel consumption, cargo weight, shipping distance and other variables. Emission calculators are used to calculate carbon dioxide emissions based on these factors.
Buying Carbon Credits: After the total emissions of a shipping company are known, the next step is purchasing carbon credits equal to the CO2 produced. They can be bought from offset projects that reduce or absorb carbon, including renewable energy, protection of forests or those involving methane capture.
Certification and Reporting: Shipping Companies should ensure that offsetting projects are certified. One can look for those certified by recognized standards like the Verified Carbon Standard or the Gold Standard to ensure transparency and accountability.
Role of Emerging Technologies
Though carbon offsetting is an important tool, it is not a permanent solution. The maritime sector has to invest in cleaner technologies that reduce carbon emissions at the source. Some such technologies include:
Alternative fuels: The use of alternative fuels like LNG, biofuels, ammonia, and hydrogen are being explored to decrease fuel consumption, and lower carbon emissions from shipping operations.
Wind-Assisted Propulsion System: A few ships are experimenting with wind-assisted propulsion systems like sails and kites to decrease carbon emissions.
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Source: Marine Insight
