NORDEN announced a sustainable maritime fuel agreement with Meta aimed at advancing the decarbonisation of the maritime industry.
According to the statement, NORDEN’s emissions reduction solution offers a pathway for decarbonisation of maritime freight, in an environment with limited geographic biofuels availability. The emissions reduction solution NORDEN follows – known as Book & Claim – works by burning biofuel on a NORDEN operated vessel and the emission reduction being allocated to a third-party customer, in this case Meta, using a book and claim chain of custody system.
The solution is developed to enable NORDEN’s direct customers and clients in other industries which are dependent on marine transportation and seeking to decarbonise their supply chains to credibly invest in maritime decarbonisation.
Furthermore, NORDEN uses the Smart Freight Centre’s Voluntary Market Bases Measure Framework for Logistics Emissions Accounting and Reporting as the basis for transferring the environmental attributes (emission reductions) of biofuels used in operations to clients with transparency and assurance.
The ISCC certified biofuel has 80-90% life cycle emission reduction potential and is a drop-in substitute which can be utilised by existing vessels. The emissions reduction is authenticated by an independent verifier, Normec Verifavia and transacted on an external registry through 123Carbon.
Anne Jensen, COO, NORDEN stated that the company is proud to include Meta to its growing list of customers looking to decarbonise their maritime supply chains.
Both Meta and NORDEN share a commitment to high standards and to the further development of the decarbonisation of maritime freight, as demonstrated by our involvement in the Book and Claim Community’s Governing Board.
…said Anne Jensen.
Anne Jensen added that NORDEN’s Book & Claim solution allows customers of marine transportation across the globe to take advantage of emissions reductions from biofuels, even when biofuels are not physically available to be bunkered on a specific trading route or voyage.
At Meta, we have a goal to reach net zero emissions across our value chain in 2030. To achieve that goal, we’re working to address emissions sources across the supply chain – including the upstream emissions associated with the maritime transportation of supply chain goods such as computing equipment and construction materials.
…said Devon Lake, Head of Net Zero Strategy, Meta.
Devon Lake added that innovative solutions such as those that NORDEN is providing are critical for companies like Meta to decarbonise their value chain at the pace and scale required to achieve emissions reduction targets.
