This week, TradeWinds published an op-ed by Lynn Loo, the Global Centre for Maritime Decarbonisation’s (GCMD) Chief Executive. Loo notes that decarbonization is impossible with today’s funding and fuel but future decarbonization efforts need to include accurate emissions measurements. GCMD is working to address decarbonization challenges and supports investments in safety in deploying ammonia as a fuel, adopting energy-saving solutions, and closing the gap for deploying biofuels in the interim. All of these investments require emissions tracking and Loo acknowledges accurate “measurement and monitoring of greenhouse gas emissions.”
Loo also mentioned that accurate emissions measurements “increase stakeholder confidence in the implementation of any global carbon-pricing schemes to come.” At SailPlan, we know firsthand that decarbonization cannot come without accurate emissions measurements. For example, the EU’s forthcoming Emission Trading System (ETS) will require vessels over a certain weight to pay for, reduce, or trade their excess carbon emissions. Without accuracy in eligible vessel operator’s reported emissions, the ETS will not be as effective in reducing emissions. Without real-time measurements, vessel operators could overreport or underreport their emissions, paying too much or too little for their carbon emissions. Paying too much would overburden vessel operators and paying too little would hurt decarbonization efforts.