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 and keep your sustainability strategy relevant. As more nations place a price on carbon, the payoff for investing in energy efficient vessels will materialise and insurance firms and P&I clubs that continually invest in their sustainability strategy will have significant market advantage.
Features of GHG Rating for ports and terminals
Transparency
The GHG Rating increases transparency in the shipping industry by ranking ships according to their energy efficiency and GHG emissions. Marine insurers can quickly and easily identify vessels standing out from others in their peer group, measuring the impact of 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 marine insurers to select companies who invest in essential energy saving equipment.
Benchmarking
Compare the relative efficiency of vessels through global and fleet benchmarking, allowing you to fully understand your emissions profile and the emissions of your supply chain. Track emissions of vessels you insure, which allows the development of a baseline of emissions and an overall carbon-emissions target.
GHG Rating advantages
Simplifying your decisions
Provides visibility into vessel efficiency by simplifying complicated data through an easy to understand Rating. The simple A to G rating helps insurers and P&I clubs make informed business decisions and select vessels that will improve the emissions profile of their company.
Access more data
Provide your risk assessment and underwriting team with easy to use and industry standardised GHG Rating and efficiency data to supoprt their due diligence and underwriting processes. Marine insurers and P&I Clubs cite efficiency as a key indicator for a vessel’s risk assessment.
Leading the industry
Lead the industry towards lower emission targets through the RightShip GHG Rating. Fully understand your emissions profile and the vessels you insure to hit your ESG and CSR targets, allowing you to insurer only the most efficient vessels.
Early indications are that the MEP will be a useful tool for both port authorities and port operators to better understand shipping emissions and therefore consider management opportunities to address these emissions in balance with land-based sources.
