Danish shipping company Norden announced on 26 November that it has entered into an agreement with Meta on sustainable marine fuels, with the aim of advancing the decarbonisation of the maritime industry.
In an environment of limited biofuel supply, Norden’s emission reduction solutions offer a way to decarbonise maritime cargo.
The emissions reduction solution followed by Norden, known as ‘book and claim’, works by burning biofuels on Norden-operated vessels and then allocating the emissions reductions to third parties using a ‘book and claim’ chain of custody system. Norden uses a voluntary system of Smart Freight Centres.
Norden uses the Voluntary Market Based Measurement (VBM) framework of the Smart Freight Centre for logistics emissions accounting and reporting as the basis for transferring the environmental attributes (emission reductions) of the biofuels used in its operations to its customers, which Norden says provides a high degree of transparency and assurance.