New Carbon Offset Initiative Announced in Maritime Industry

Charles R. Weber Company, Inc. (“CRW”), an industry-leading ship broker, today announced a strategic initiative with Bluesource, North America’s most experienced and most diversified corporate climate advisor, to offer CRW’s clients carbon credits to offset the emissions produced. Through this alliance, Charles R. Weber’s clients will have the ability to calculate and offset emissions from their voyages. The International Maritime Organization has estimated that shipping is responsible for about three percent of man-made greenhouse gas emissions1 .

While additional necessary work is underway internationally to advance the industry to directly cut or curb emissions to meet United Nations goals, these carbon credits will be directed at projects with immediate environmental benefit. By partnering with Bluesource, CRW gives clients the ability to voluntarily reduce the environmental footprint of their voyages by investing in highquality, verified carbon offset projects from Bluesource. Projects include improved forest management, landfill gas capture, and hydrofluorocarbon emission reduction or capture from industrial processes. These projects all either reduce or prevent greenhouse gases from entering the atmosphere.

“Our partnership with Bluesource is an important step to create opportunities for our clients and industry to offset carbon emissions,” said Christos Papanicolaou, Co-Managing Director of Charles R. Weber. “While carbon offsets are still voluntary for our industry, it is expected that they will play an important role as governing bodies such as the IMO and the EU further refine their plans for greenhouse gas reductions. We are pleased to have formed a partnership with Bluesource, an experienced and global firm that can provide a wide range of high-quality environmental solutions.”

“Because of the current carbon intensity of maritime fuels, carbon offsets are a great way to act now to address what are currently unavoidable emissions of the shipping industry” said Kevin Townsend, Chief Commercial Officer of Bluesource. “We are thrilled to be able to work with CRW as they help their clients navigate the intricacies of climate action and the role of high-quality offsets in addressing emissions.”
Source: Charles R. Weber Company, Inc.