DNV Unveils Emissions Connect to Address Emerging Needs of Maritime Industry Ahead of EU Emissions Trading System Implementation

DNV Unveils Emissions Connect to Address Emerging Needs of Maritime Industry Ahead of EU Emissions Trading System Implementation

(IN BRIEF) DNV has launched a data management platform and emissions data verification engine called Emissions Connect for the maritime industry. The tool offers a reliable source of emissions data that can be securely shared with all stakeholders throughout the maritime value chain. It particularly caters to the industry’s emerging needs in light of the EU Emissions Trading System (ETS) and the Carbon Intensity Indicator (CII). Emissions Connect is built on the Veracity Data Workbench and offers a high-quality emissions data baseline that is digitally verified, verified voyage statements, and emissions performance simulation. Stakeholders can use this information for decision-making and to facilitate ETS allowance settlements.

(PRESS RELEASE) BÆRUM, 19-Apr-2023 — /EuropaWire/ — DNV, a leading provider of software solutions for the maritime industry, has recently unveiled Emissions Connect, a data management platform and emissions data verification engine that aims to support the maritime industry in accurately assessing and managing emissions data. This solution enables stakeholders to access a trusted and verified source of emissions data that can be securely shared with all relevant parties throughout the maritime value chain.

“Reducing emissions and reporting on progress is becoming increasingly important for the maritime industry and is set to have an impact on business that goes beyond regulatory compliance,” said Knut Ørbeck-Nilssen, CEO, DNV Maritime. “Through providing real-time verified emissions data that the entire maritime value chain can share, trust and act on, Emissions Connect can serve as an important enabler to help the industry achieve its decarbonization goal.”

While Emissions Connect is designed to address the operational impacts of various regulatory requirements and decarbonization trajectories, it specifically caters to the maritime industry’s emerging needs in light of the introduction of the EU Emissions Trading System (ETS) and the Carbon Intensity Indicator (CII).

With the EU ETS scheduled to take effect from 2024, the DoC holder (usually the ship manager) will need to surrender EU Allowances (EUAs) based on annual emissions levels. The CII rating measures a vessel’s efficiency in transporting passengers or goods. Both the EU ETS and CII expose DoC holders to significant financial risk, as emission costs are factored into stakeholder contracts to ensure equitable distribution. As a result, accurate and reliable data collection, management, and sharing are critical.

“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,” explains 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.”

DNV’s Emissions Connect is designed to offer commercial support throughout the maritime value chain, providing a common source of verified emissions data for all stakeholders. This solution leverages the Veracity Data Workbench, a robust emissions data management solution that supports customers. Emissions Connect delivers a high-quality emissions data baseline that is digitally verified, as well as verified voyage statements that serve as a reliable basis for emissions accounting and ETS allowance settlements. The tool’s emissions performance simulation enables projections of a vessel’s future CII score and planning of EU ETS allowances, which facilitates informed decision-making.

Shipowners can provide high-quality emissions data that is verified by DNV and shared with customers for self-service in transaction settlement, compliance reporting, exporting, and secure sharing with partners and third parties, including banks and insurance companies that adhere to the Poseidon Principles.

“Emissions Connect enables all parties in the value chain to work on the same trusted, verified and standardized 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,” says Lande.

Emissions Connect
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Media contact:

Margrethe Andersen
Head of External Communications, Maritime

Phone: +47 47 68 22 89
margrethe.andersen@dnv.com

SOURCE: DNV AS