Catom and OK Marine introduce Carbon Insetting for inland shipping
CO2 reduction is the order of the day and presents challenges for carriers and their fuel management. For example, if theCO2 savings achieved must be demonstrable. Or if only some of the end customers are willing to invest in renewable diesel, even though it involves the same transport. In order to support inland navigation in this respect and to make customization possible, Catom and subsidiaries OK Marine and OK Slurink are introducing the online tool Carbon Insetting in cooperation with 123Carbon.
OffsettingCO2: from Carbon Offsetting to Carbon Insetting
OffsettingCO2 is not new and mostly known in the form of an investment in greenCO2-reducing projects, where theseCO2 savings can be offset against theCO2 actually emitted elsewhere. This is called Carbon Offsetting. Carbon Insetting, on the other hand, is about actually reducingCO2 within the chain, where we distinguish between the modes of road transport, inland navigation, shipping and aviation. TheCO2 reduction here is achieved by using a biofuel such as HVO (Hydrotreated Vegetable Oil).
Carbon Insetting for Inland Navigation
Carbon Insetting offers carriers a big advantage when serving multiple end customers in a single transport. Something that occurs to a large extent in inland shipping. Sjoerd Slurink, Commercial Manager OK Slurink: “More and more customers in inland navigation want to switch from gas oil to our HVO100, our Neste MY Renewable Diesel. This is possible with immediate effect, without any technical modifications to the engines. However, the additional price of renewable diesel can be perceived as an impeding factor. Especially if not all of their end customers are willing to invest in sustainable transport.”
“With our Carbon Insetting solution, we make it possible for inland shipping to deliver tailored sustainability, even if it involves the same transport,” Slurink continued. “We do this by linking the end customer in the chain to the initial fuel purchase. As a result, carriers only have to invest in sustainable fuels for end customers who are actually willing to pay a premium price for it.”
Here’s how it works
Joost de Bruin, Biofuels Analyst Catom: ”Our Carbon Insetting platform makes it possible to digitally assign theCO2 reductions achieved with HVO in inland shipping to customers. Our customer, the carrier, can manage theseCO2 reductions themselves in their own online environment and link them to specific end customers. TheCO2 reductions available online are directly related to the actual HVO delivered and are tracked based on blockchain technology and independently verified by Normec Verifavia. This prevents double counting.”
Reductions today are often given on paper. This is a lot of administrative work and often based on average values and not verified. Catom’s Carbon Insetting solution in collaboration with 123Carbon and audit partner Normec Verifavia changes this.
