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Classification society DNV has awarded Wallenius Wilhelmsen its first biofuel insetting verification statement in recognition of the company’s use of B100, a 100% biofuel, in a recent voyage.
The biofuel insetting verification, awarded at the SMM trade fair, marks a significant step towards sustainable shipping.
Biofuel insetting is a mechanism that allows shipping companies to reduce their carbon footprint by investing in emission reduction projects within their own value chains. Utilizing a book-and-claim system, biofuel insetting disconnects the transport and fuel from the cargo and service offered, allowing green services to be provided based on certificates rather than actual fuel used. The method can accelerate the adoption of carbon-neutral fuels by enabling companies without direct access to sustainable biofuels to purchase claims, thus contributing to the overall reduction of the shipping industry’s environmental impact.
The verification process centered on the GHG reductions achieved by Wallenius Wilhelmsen’s vehicle carrier, Morning Post. The vessel bunkered B100, derived entirely from sustainable sources, at the Port of Antwerp-Bruges. Over its scheduled voyage, the use of this biofuel resulted in a 90% reduction in CO2 equivalent on a well-to-wake basis.
“Our ambition is to lead the transformation of our industry towards a decarbonized future and the increased utilization of sustainable biofuel will play a part in getting us there and delivering on our net-zero 2040 commitment,” said Jørgen Westrum Thorsen, Senior Manager Sustainability at Wallenius Wilhelmsen.
Morten A. Lerø, Managing Director of DNV Maritime Advisory, highlighted the broader implications of this development: “Biofuel insetting is emerging as an important new solution for companies aiming to reduce their carbon footprint, alongside meeting the increasing strict national and international regulatory targets.”
To support this emerging market, DNV has developed a comprehensive biofuel insetting verification service, encompassing all stages—from establishing an emissions baseline to issuing a verification statement and offering support for Scope 3 accounting.
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