DNV releases emissions data verification engine
Norway-based risk management company DNV has launched Emissions Connect, an emissions data verification engine and data management platform aiming to provide real-time, verified emissions data in the maritime industry.
The solution is hoped to provide a common source of emissions data that can be shared securely with all relevant stakeholders along the maritime value chain.
Built on the Veracity Data Workbench, which aims to support customers with a strong emissions data management solution, DNV touts the platform’s high-quality emissions data baseline, which is digitally verified.
DNV’s solution provides verified voyage statements that can be used as a basis for emissions accounting and to facilitate EU Emissions Trading System (ETS) allowance settlements.
An emissions performance simulation allows for projections of a vessel’s future Carbon Intensity Indicator (CII) score and for the planning of EU ETS allowances, facilitating informed decision-making.
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High-quality emissions data provided by the shipowner is verified by DNV and shared with customers for self-service in settlement of transactions or other purposes. These can include compliance reporting, exporting and secure sharing with partners and third parties, including banks and insurance companies adhering to the Poseidon Principles – a global framework for assessing and disclosing the climate alignment of financial institutions’ shipping portfolios.
Emissions analytics is important not only for stakeholders in the maritime industry, but equally so in energy. According to WatchWire, tracking emissions can help with efficiency and lower unnecessary energy costs, enabling improved operations.
The International Energy Agency echoes this, stating how understanding emissions data can bolster energy efficiency efforts – a big contributor to a net-zero scenario.
In announcing the platform, Knut Ørbeck-Nilssen, CEO, DNV Maritime, stated how reducing emissions and reporting progress “is becoming increasingly important for the maritime industry and is set to have an impact on business that goes beyond regulatory compliance.”
“Emissions Connect enables all parties in the value chain to work on the same trusted, verified and standardised dataset, or a single source of truth, which eliminates many of the data governance and trust issues arising from the traditional method of exchanging data via email.
“Reliable, verified data is necessary at every stage of the value chain for operational control and accurate accounting of emissions in order to facilitate commercial agreements,” added Pål Lande, digital business development director at DNV Maritime.
“Annual aggregated data reports will no longer be sufficient to manage and control ETS allowance and CII performance. Transparency on a trusted and verified voyage statement based on daily real-time reporting of data will be an essential basis of commercial contracts.”
