New carbon emissions services for shipping launched by IFCHOR ClearBlue partnership

Shipbroker IFCHOR and carbon market specialist ClearBlue Markets have partnered to offer carbon emissions advisory services to the shipping industry.

IFCHOR ClearBlue Oceans says it will help clients navigate changing legislation, source high quality emissions offsets as well as structure and execute carbon offset projects or transactions. Through the partnership, the shipping sector will be able to work with an experienced advisory team and access verified offset registries around the world.

The new service is a response to the growing number of requests for shipowners and operators to offset their direct greenhouse gas (GHG) emissions through voluntary carbon standards. The movement of global trade by sea accounts for around 3% of global anthropogenic GHG emissions.

With tighter regulation and more proactive stakeholder involvement in reducing carbon emissions from shipping, the shipping industry is transiting towards a low-carbon future. It is IFCHOR ClearBlue Oceans’ goal to help participants stay ahead of changing climate policy.

Trifon Tsentides, Director of Business Development at IFCHOR said, “The combined strengths of a shipbroker and renowned carbon market specialist will help shipowners and charterers alike navigate their way through the complexities of carbon offsetting. From creating plans and strategies, to executing and registering trades, we are providing clients with a complete set of actionable tools to reduce their operational carbon footprint. With emissions from shipping looking likely to fall under mandatory carbon pricing regimes in the future, voluntary pledges allow emitters to build their experience of the carbon markets and make a positive difference from today.”

Nicolas Girod, Director of Markets at ClearBlue Markets and with over 10 years of experience in the sector, said, “Carbon offset markets have matured significantly since their inception over two decades ago. Today carbon emitters can purchase credits which enable investments in projects which make an impact, confident in the knowledge that these initiatives are independently verified, traceable and that they will meet their stakeholders’ expectations. Today, the cost of offsetting emissions is far below the cost of abating emissions in the shipping sector. As such, it offers participants the chance to plan in more longer-term direct emissions reductions while charting a climate conscious course today. We help clients to better understand the carbon market, looking at price drivers, different trading approaches as well as build carbon pricing compliance strategies, develop offset projects and provide instant updates on significant market developments and changes to carbon prices.”

In the short term, the partnership will focus on neutralising carbon emissions. Voluntary offsets are a way of facilitating this today; helping participants to act more quickly and become familiar with carbon pricing. Over the longer term, IFCHOR ClearBlue Oceans will also assist clients to secure funding for and implement more permanent solutions. These include the use of renewable fuels and carbon capture & storage.

The partnership will structure a variety of offset transactions tailored to a shipping company’s or charterer’s specific needs through its global network of offices and strong relationships with offset project owners, carbon offset suppliers and developers. IFCHOR ClearBlue Oceans sources only high-quality offsets using the most reliable offset standards and registries.

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