lFCHOR ClearBlue Oceans is a partnership dedicated to helping and guiding the shipping industry through the complexities of the carbon markets. Combining the strengths of an experienced carbon market specialist with a leading international ship-brokerage firm allows us to provide immediate and longer-term practical commercial solutions to shipowners, operators and charterers looking for support in their transition towards a low-carbon operating model.
We offer advice on setting up carbon offsets & carbon pricing. We work with shipping market participants to offset their carbon emissions, by providing access to high-quality, certified, independently verified, unique, traceable projects. These arrangements deliver real, additional offsets which reduce the impact of industrial shipping emissions and help accelerate the transition to a low-carbon future.
Over the longer term, we can advise shipping clients on the evolving regulatory environment, helping them prepare for future compliance under mandatory carbon pricing regimes or guide on policy & legislation for funding and development of more permanent carbon reduction solutions for the shipping industry.
Our goal is to help clients be at the forefront of shipping’s transition towards a low-carbon future.
IFCHOR is a highly competitive, growing, international shipbroking company. It provides extensive shipping market coverage, shipbroking expertise and a fully integrated service to global clients. The group offers dry and wet bulk chartering, sale & purchase, research, marine technology, financial advisory and carbon emissions services.
IFCHOR has earned the trust of its clients by providing a service based on integrity, discretion, business intelligence and professionalism for over 40 years. The company is headquartered in Lausanne, Switzerland with a network of 15 offices in Asia-Pacific, Europe, Middle East and the USA.
ClearBlue Markets is an award winning, leading carbon market specialist company, covering all European and North American carbon compliance regimes. ClearBlue Markets offers unparalleled accumulated expertise since 2000 in all aspects of carbon pricing markets ranging from policy through to compliance management, trading & offset development.
ClearBlue Markets’ team has been devoted to providing integrated and cutting-edge solutions to capture and manage carbon value, including risk management, trade strategy optimization, carbon emission reduction origination and full-suite advisory services.
Shipping and carbon offsets
The global shipping industry is facing up to the challenge of decarbonisation. Responsible for around 3% of global carbon emissions, the sector is working hard to reduce its impact on the planet. There have been big strides in efficient engine technologies and fuel-saving operational practices. However, an ever-expanding merchant fleet servicing growing trade volumes, means that without radical action, emissions from shipping will rise.
To achieve its goal of halving emissions by 2050, the International Maritime Organization (IMO) has set-out a strategy involving a reduction of CO2 emissions of 40% by 2030. It hopes to reach this goal by developing short-term measures such as removing market barriers, improving operational energy efficiency and developing technologies for zero-carbon fuels that will deliver additional CO2 reductions before 2023; mid-term measures to be adopted between 2023 and 2030 aimed at fostering innovation and starting the deployment of alternative fuels plus longer term measures that will eventually achieve full decarbonisation of international shipping within this century. It looks likely that shipping will be brought into the EU’s Emissions Trading Scheme by 2024.
Countless projects and initiatives are underway by energy majors, universities, governments, engine manufacturers, shipowners and entrepreneurs to reach these targets and build a sustainable global supply-chain.
Yet the development of new fuels and propulsion systems at scale remains someway over the horizon.
Part of an immediate solution is investing in high quality carbon offset projects today.
Voluntary carbon markets
A robust voluntary carbon market is critical to delivering the huge reductions in greenhouse gases which the planet needs to achieve within the next 30 years if it is to avoid devastating climate change. Voluntary carbon markets are not just about supporting natural offsets such as tree planting. They are also about providing the financial support needed for the development of new fuels and technologies. Carbon credits have the potential to make emerging technologies affordable and therefore scalable at speed.
Companies around the world are taking steps to reduce their own emissions as well as their supply chain emissions. Ocean and shortsea shipping are critical components in this.
Carbon credits purchased on a voluntary basis, finance climate change mitigation activities to compensate or neutralise your company’s carbon footprint. The projects which generate these credits can be grouped into two categories:
- Greenhouse gas avoidance or reduction projects such as the introduction of new technologies including new heating, cooling and lighting sources or programmes which limit or avoid nature loss such as deforestation or destruction of peatland which act as carbon sinks.
- Greenhouse gas removal/ sequestration projects, including both natural solutions such as reforestation and restoration of mangroves, peatlands and soils or technology-based removal solutions including carbon capture and storage.
Many projects funded by carbon credits will also have significant positive impacts beyond carbon reduction. They can help alleviate poverty, increase biodiversity, improve health and support local communities.
The voluntary carbon offset market has developed over the past 15 years into a well-functioning and credible industry. The buyers of carbon credits through IFCHOR ClearBlue Oceans can be assured that they are investing in projects with highest levels of environmental integrity. All projects we provide access to are accredited by either Gold Standard or the Verified Carbon Standard.
Gold Standard was established in 2003 by WWF and other international NGOs to ensure projects that reduced carbon emissions featured the highest levels of environmental integrity and also contributed to sustainable development. With the adoption of the Paris Climate Agreement and the Sustainable Development Goals, it launched a best practice standard for climate and sustainable development interventions, Gold Standard for the Global Goals, to maximise impact, creating value for people around the world and the planet we share.
Verified Carbon Standard (Verra)
The VCS Program is the world’s most widely used voluntary greenhouse gas programme. Over 1,600 certified VCS projects have collectively reduced or removed more than 500 million tonnes of carbon and other GHG emissions from the atmosphere.
Verra’s role is to develop and administer the programme. It provides oversight to all operational components of the VCS Program and is responsible for updating the VCS rules such that they ensure the quality of Verified Carbon Units (VCUs). The development of the VCS Program is supported by the VCS Program Advisory Group, a multi-stakeholder body that helps ensure that the VCS Program continues to serve its users in an effective and efficient manner and drives practical and robust solutions to mitigate climate change.