We want to reach a 50 per cent reduction in shipping emissions by 2050. RightShip’s GHG Emissions Rating provides a transparent method to assess the relative efficiency of vessels and compare a ship’s theoretical CO2 emissions relative to peer vessels of a similar size and type using the easy to interpret A – G scale. Those resisting the evolution risk an impact to their bottom line.
When you employ sustainability measures recommended by RightShip, you strengthen your market position. The GHG Emissions Rating is a systematic and transparent means of comparing the relative efficiency of the world’s shipping fleet. It is disrupting the market, putting those who use it out in front of their competition through increased transparency. In rating ships according to their efficiency, we enable users to make informed decisions about the sustainability of their supply chain.
GHG Rating
The GHG Rating is a dynamic model, meaning a vessel’s GHG Rating moves relative to the changing market. This allows you to easily monitor market improvements, keep your sustainability strategy relevant and always drive positive change through your vessel selection process.
Features of GHG Rating for Charterers
Transparency
The GHG Rating increases transparency in the shipping industry by ranking ships according to their energy efficiency and GHG emissions. Charterers can quickly and easily identify vessels standing out from others in their peer group, selecting vessels that will improve the emissions profile of their company.
Informed selection
Assists the maritime industry to transition to a low carbon economy through informed selection of more efficient ships. The clearly explained methodology provides easy to understand ratings used by all players in the industry and provides a market-based need for charterers to select companies who invest in essential energy saving equipment.
Benchmarking
Strong sustainability performance is highlighted in RightShip’s digital platform, giving our customers a clear path to options that meet their due diligence requirements. Compare the relative efficiency of vessels through global and fleet benchmarking, allowing you to fully understand your emissions profile and the emissions of the vessels you charter.
GHG Rating advantages
Part of your due diligence
Seamlessly integrate the GHG Rating with RightShip’s vessel vetting to align industry emissions reduction targets with your ESG and CSR targets, allowing you to screen for only the most efficient vessels.
A competitive advantage
The GHG Rating provides our clients the opportunity to be rewarded through visibility and recognition for their positive efficiency initiatives. Recognition for these actions has never been more important for competitive advantage, in an industry with strong environmental regulatory and commercial signals behind it.
Leading the industry
Lead the industry towards lower emission targets through the RightShip GHG Rating and put the industry on the path to a zero harm maritime environment.
We’ve used RightShip to ensure the vessels we use are safe and environmentally sound, so it was a logical step to ask the team to help us measure our scope 3 emissions. Working with them is very straightforward and we are confident in the accuracy and reliability of the results. There are very few scope 3 data sources and, as far as we are aware, there is no other agency able to deliver this level of accuracy for ocean transport.
RightShip, the ship approval system used to verify vessel efficiency, has confirmed the fuel savings Odfjell has achieved using MAN Diesel & Turbo’s Kappel Propeller upgrade package. After the upgrade, the vessels are amongst the most energy efficient chemical tankers in the world, and achieve the highest score on the RightShip’s energy rating, A+.
Until 2016, our scope 3 emissions were estimated but that’s no longer good enough. We need to understand our emissions so we can benchmark them against other shippers and control them effectively. RightShip allows us to do that.
We’re proud to be accelerating the shipping industry’s movement toward greater efficiency and sustainability using RightShip’s GHG Emissions Rating. Since launching our Green Wave vessel incentive program in 2014, RightShip has been an exemplary qualifying measurement that has allowed vessel charterers and owners to take advantage of significant discounts to harbour dues at the Port of Prince Rupert. The support we have received through our partnership with RightShip has been integral to the success of our program. Our recognition of environmental performance is encouraging the adoption of similar practices across the global shipping industry.
By using more-efficient ships, we are gaining cost efficiencies and furthering our efforts to reduce Mosaic’s carbon footprint. Given the success of GHG Emissions Rating vetting, we are reviewing options to also exclude F-rated vessels. Emissions from shipping currently represent less than 5 percent of Mosaic’s carbon footprint.
