Maritime transport is responsible for 2-3% of global greenhouse gas (GHG) emissions. Quantitatively, this amounts to just over 1 billion tonnes of GHGs per year. Both the IMO and the EU have set GHG emission reduction targets for ships and aim to achieve climate neutrality in this sector.
There are two types of carbon markets: compliance and voluntary. Most are already familiar with the regulated compliance carbon markets, the EU and UK ETS, which shipping companies will be included in from 1 January 2024.
Voluntary carbon markets (VCMs), on the other hand, include all transactions of carbon credits (offsets) that are purchased to offset GHG emissions and reduce carbon footprint on a voluntary basis.
Shipping companies have a number of options available to them in CSMs, ranging from simple to comprehensive solutions to reach the goal of net zero emissions by 2050. Among others, they can participate in Net-Zero initiatives aligned with the Paris agreement, use guarantees of origin or develop projects that generate offsets.
In this context, the Global Factor team will hold a specialised webinar for the Finnish maritime audience on 29 May. From the current context and expectations of carbon markets, to the analysis of voluntary carbon markets and their opportunities. Furthermore, the role of Guarantees of Origin and how they can help on the road to decarbonisation will be explored.
In this webinar we will explore the current context of carbon markets, as well as their evolution and future expectations. We will start with a recap of emission allowance markets (EU/UK ETS), followed by an analysis of voluntary carbon markets and the opportunities they present for shipping. Finally, we will examine the role of guarantees of origin on the path to decarbonisation.
The webinar will be led by industry experts and attendees will have the opportunity to discuss their questions during a live Q&A session following the talk.
Agenda (14.30 – 15.30h CEST.)
15.30 – 15.35: Welcoming remarks
15.35 – 15.45: Compliance carbon markets. Evolution and outlook of EU/UK ETS markets.
15.45 – 15.55: Voluntary Carbon Markets: Project types and key standards. Opportunities for shipping companies. Current context and forecasts.
15.55 – 16.05: Energy Attribute Certificate (EAC): What a EAC is. Global EAC standards. Guarantees of Origin. Evolution and future expectations.
16.05 – 16.30: Q&A session
Source: Global Factor
Global Factor is an international group with 19 years of experience, specialised in offering global, original, and innovative solutions in the fields of climate change adaptation and mitigation, carbon footprint, sustainability, circular economy, renewable energies, climate neutrality and carbon markets. Global Factor has an interdisciplinary team with a presence in 8 countries and has participated in more than 2,000 projects for more than 700 public and private clients, international organisations and non-profit entities in 51 different countries.