Fenice Bulk is a Monaco-based shipping company that transports bulk commodities by sea around the world. Given their green shipping approach and values, and in anticipation of various upcoming regulatory changes in the maritime industry, Fenice Bulk partnered with Net0 to accelerate its carbon neutrality journey.
After having analysed a few platforms, we opted for Net0 since it is very user friendly, easy to navigate and implement the platform. The Net0 team is always at hand to assist with any queries
Problem
Given that around 90% of the global commodity trade is transported by sea, leading the shipping industry to account for almost 3% of the world’s CO2 emissions, the European Commission has proposed its inclusion in the EU’s carbon market as of January 2023. Adding the shipping industry to the European Union Emissions Trading System (ETS) will impose the need for shipowners to buy permits covering their emissions in the EU and part of their emissions from international voyages starting and ending in the EU.
The upcoming regulations will likely lead shipowners to work with the most sustainable commodity trading companies to reduce their emissions, therefore cutting costs in future carbon credit trades. Fenice Bulk aims to be positioned as an early adopter in sustainable shipping services, requiring the company to accelerate its decarbonisation journey.
Solution
Fenice Bulk partners with Net0 to become carbon neutral by offsetting it’s scope 1 and 2 emissions through the multiple carbon offsetting projects available on the Net0 Platform. Net0’s automated AI-powered emissions management platform also allows continuous tracking, analysis and reporting of emissions, enabling the establishment of a robust and tangible future emissions reduction plan.
Results
By offsetting, and eventually reducing, its scope 1 and 2 emissions, they will stay in line with upcoming industry regulations.
