BCG, ABS supporting the industry adopt new decarbonisation strategies

Boston Consulting Group (BCG), a global management consultancy, and American Bureau of Shipping (ABS) have signed a memorandum of understanding (MoU) to join their technical and consulting expertise in the maritime and offshore industries, providing joint support to industry’ decarbonization journey.

As explained, the new joint proposition will help the shipping players achieve their net-zero goals, supporting asset owners in their efforts to explore feasible options for operational and technical improvement.

Furthermore, the partners will advise on carbon capture technologies, and the uptake of alternative and low-carbon fuels, among other consultative services that support carbon reduction strategies.

The BCG/ABS offer is also aimed at those looking to tap into the opportunities afforded by the transition to net zero. This would include all businesses that feed into the low-carbon value chain for offshore industries, including renewable energy producers, low-carbon fleet development, and subsea storage, among others.

“High uncertainty around regulation, technology and new markets requires every player across the maritime value chain to work together. Taking a bold leadership position, even with uncertainty, will create an advantage for first movers, and sustainable business for followers,” Peter Jameson, Partner and Global Lead for Climate and Sustainability in BCG’s Infrastructure, Transport and Cities practice, said.

“We are excited to be bringing two global and industry recognized brands together to help the maritime industry, governments, charterers, suppliers, shipyards and shipowners deal with the challenges and opportunities of decarbonization. ABS is built to play in the sweet spot of safety, technology and regulations while BCG is built to play in the sweet spot of strategy, transformation and change management,” Christopher J. Wiernicki, ABS Chairman, President and CEO, added.

“Bringing these capabilities together will provide a unique offering to help the industry safely unlock value, manage risks and take advantage of opportunities over the life cycle of the clean energy transition in a changing world. Success is a team sport and together ABS and BCG will make a difference.”

In the past, ABS worked with several industry players to support their decarbonisation path. In June this year, the classification society joined forces with U.K.’s consultancy provider Arcsilea to carry out a technical study on the future of ship energy efficiency measures introduced by the International Maritime Organization (IMO).

The 15-month-long project analyzed the IMO’s Carbon Intensity Indicator (CII), Energy Efficiency Existing Ship Index (EEXI) and Energy Efficiency Design Index (EEDI) framework.

Moreover, the parties provided recommendations for further development, effective implementation and enforcement.