CargoValue now measuring a significant share of global emissions from dry bulk shipping
In less than 12 months, Klaveness Digital together with ZeroLab have commercialized an emissions monitoring solution that is now live in CargoValue. The monitoring solution, titled ‘Emissions’, is now measuring a significant share of emissions from global dry bulk shipping, empowering its customers to continuously track and manage their carbon footprint.
“Arming our industrial customers with crucial insight like this means they can spend their time actively looking for emissions hotspots and opportunities to reduce their footprint,” said Klaveness Digital Managing Director Aleksander Stensby.
Mitigating carbon risk in the supply chain
Monitoring of emissions was just recently added as a service to the CargoValue platform, marrying industry expertise and technical know-how to mitigate carbon risk in supply chains across all main shipping segments. “In dry bulk we’ve expanded fast and are now serving major global accounts in aluminium, grain and mining to name a few,” Stensby added.
The platform tracks greenhouse gas emissions generated by every freight shipment, using calculations based on satellite data, vessel particulars and actual behaviour. This complements and corroborates an increasing share of data coming into CargoValue from vessels reporting their actual emissions.
Putting data to use in a smart way
“Quality data is the backbone of the digitalization movement, with demand coming not only from customers, but also investors and other stakeholders. Working with us allows charterers to take action now on accurately measuring, assessing, and benchmarking their Scope 3 emissions,” adds Stensby, arguing that the industry needs to follow the example of the first movers and drop the “wait and see mentality” often linked with zero fuels or regulatory agenda.
Head of ZeroLab Morten Skedsmo, whose team has led the development of ‘Emissions’, is pleased to see more customers realize the value of accurate monitoring. “As a shipping company we are taking action on our own emissions and helping other companies do the same, we want to create value every step of the way.”
Building on the insights available through the Emissions module in CargoValue, ZeroLab’s team then apply their expertise to focus on helping charterers to explore reduction strategies, for example by establishing an emissions trajectory in line with the customer’s ESG commitments. As up to 30% of emission reductions can be achieved through improved operational efficiency, the team uses the data to guide customers on where improvements can be made across the supply chain.
Collaboration is key
Stensby, meanwhile, emphasizes the critical importance of collaboration across the value chain in driving decarbonization. “As well as quantifying supply chain emissions and assessing how they align with established frameworks for ESG compliance and industry initiatives such as the Sea Cargo Charter, CargoValue enables collaboration with stakeholders in real-time to build transparency. Some customers have incorporated their global operations and spanning hundreds of supply chain stakeholders into the platform.”
“Digital transformation, leveraging intelligent, cost-effective ways to complement work done by humans is key for survivability and profitability. With our platform of services providing end-to-end commodity visibility, we can act as an extension of customers’ own supply chain function and guide them on their digital journey towards resilience and long-term sustainability,” Stensby concluded.