Norden signs marine biofuel offtake agreement with Meta

Photo: Norden

Danish shipping company Norden announced Nov. 26 a sustainable maritime fuel agreement with Meta aimed at advancing the decarbonization of the maritime industry.

“We are proud to include Meta to our growing list of customers looking to decarbonize their maritime supply chains,” said Anne Jensen, Norden’s chief operating officer. “Both Meta and Norden share a commitment to high standards and to the further development of the decarbonization of maritime freight, as demonstrated by our involvement in the Book and Claim Community’s governing board.”

Norden’s emissions-reduction solution offers a pathway for decarbonization of maritime freight, in an environment with limited geographic biofuels availability.

The emissions-reduction solution Norden follows, known as book and claim, works by burning biofuel on a Norden-operated vessel and the emission reduction being allocated to a third-party customer, in this case Meta, using a book-and-claim chain-of-custody system.

Norden uses the Smart Freight Centre’s Voluntary Market Bases Measure Framework for Logistics Emissions Accounting and Reporting as the basis for transferring the environmental attributes (emission reductions) of biofuels used in its operations to its clients with what Norden says is a high degree of transparency and assurance.

The ISCC-certified biofuel has 80 percent to 90 percent lifecycle emission-reduction potential and is a drop-in substitute, which can be utilized by existing vessels.

The emissions reduction is authenticated by an independent verifier, Normec Verifavia, and transacted on an external registry through 123Carbon.

“Our book-and-claim solution allows customers of marine transportation across the globe to take advantage of emissions reductions from biofuels, even when biofuels are not physically available to be bunkered on a specific trading route or voyage,” Jensen said.

The solution is developed to enable Norden’s direct customers and clients in other industries that are dependent on marine transportation and seeking to decarbonize their supply chains to credibly invest in maritime decarbonization.

“At Meta, we have a goal to reach net-zero emissions across our value chain in 2030,” said Devon Lake, Meta’s head of net-zero strategy. “To achieve that goal, we’re working to address emissions sources across the supply chain—including the upstream emissions associated with the maritime transportation of supply-chain goods such as computing equipment and construction materials. Innovative solutions such as those that Norden is providing are critical for companies like Meta to decarbonize our value chain at the pace and scale required to achieve our emissions-reduction targets.”