AkzoNobel presents 109,617 carbon credits Italian shipping company

AkzoNobel presents 109,617 carbon credits to Italian shipping company

10:23 AM, 27th October 2016
Andre Veneman (left), AkzoNobel’s director of sustainability is presenting 109,617 carbon credits to Dario Bocchetti, corporate energy saving manager of Grimaldi Group.
Andre Veneman (left), AkzoNobel’s director of sustainability is presenting 109,617 carbon credits to Dario Bocchetti, corporate energy saving manager of Grimaldi Group.

AMSTERDAM, NETHERLANDS: AkzoNobel’s marine coatings business presents a total number of 109,617 carbon credits to a private shipping company, Grimaldi Group in Italy. This was awarded during a programme that rewards ship owners for converting to sustainable hull coatings.

Carbon credit is a tradable certificate or a permit which allows a country or organization to emit a certain amount of carbon dioxide (one tonne) or another greenhouse gas, and which can be traded if the full allowance is not used.

Each carbon credit represents the avoidance of one tonne of CO2 being emitted to the atmosphere. The credits can either be sold on the carbon markets – where they are valued in excess of $500,000 based on current prices – or can be used to offset emissions from other parts of an organization. 

AkzoNobel’s carbon credits methodology which was developed over a number of years in conjunction with The Gold Standard Foundation and Fremco Group. Launched in 2014, it is the first initiative of its kind that financially rewards ship owners for investing in sustainable hull coatings that improve operational efficiencies and reduce emissions.

Fourteen Grimaldi Group vessels were validated and verified within the carbon credits program. Each vessel was converted from a biocidal antifouling system to a premium, biocide-free advanced hull coating technology from International’s Intersleek range of coatings, which are proven to reduce fuel consumption and CO2 emissions on average by 9 percent.

“The shipping industry is under significant pressure to improve operational and environmental efficiencies and AkzoNobel’s carbon credits program is an initiative that can play a significant role in helping achieve this,” said Paul Kyprianou, external relations manager, Grimaldi Group.

“Our carbon credits program proves that by making the investment, ship owners can benefit from both increased efficiency gains and lower fuel costs. They also reap the additional financial benefits of the credits, based on the amount of carbon that is reduced. Grimaldi has shown that through championing sustainable shipping, it is creating a more competitive, efficient and successful company that will continue to pioneer the industry for many generations to come,” added Andre Veneman, director of sustainability, AkzoNobel.

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