Wallenius Wilhelmsen wins first biofuel insetting verification

Classification society DNV has awarded Norwegian/Swedish shipping and logistics company Wallenius Wilhelmsen its first biofuel insetting verification statement – recognizing the company’s use of B100 in a recent voyage.

As disclosed, DNV has worked with Wallenius Wilhelmsen to verify the greenhouse gas (GHG) reductions it has achieved by using 100% biofuel (B100) on the vehicle carrier Morning Post.

Bunkering B100, derived entirely from sustainable sources, at Port of Antwerp-Bruges, the vessel consumed the biofuel over its scheduled voyage, resulting in a reduction of 90 % CO2 equivalent on well-to-wake basis, according to the firm.

This statement is DNV’s first commercial verification of Biofuel insetting with 100% biofuel (B100) and marks a new chapter in shipping’s journey toward decarbonization.

“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. Our customers are integral partners on this net zero journey so working closely with DNV to ensure that we can consistently deliver verified emission reductions to our customers is an important step,” Jørgen Westrum Thorsen, Senior Manager Sustainability, Wallenius Wilhelmsen, said.

“In the absence of global standards, or a global accounting database for the approach, the industry needs trusted and independent assessments of these processes to ensure that emission reductions are fairly calculated and accurately tracked. For shipping companies, their customers need to trust that their sustainability drivers are backed up by rigorous standards and real, measurable outcomes,” he added.

DNV has developed a biofuel insetting verification service which covers all the steps in this process, from creating an emissions baseline, through the inset process, system validation, all the way through to issuing a verification statement and providing support in Scope 3 accounting.

The service can be tailored to individual customers, managing the complexities and helping to build trust and robust processes in this new market.

Biofuels can help to make an immediate impact on shipping’s GHG emissions. However, they do come at an increased cost and owners need to be sure that they can benefit from their extra investments in sustainability and compliance.

Verified biofuel insetting enables this, by creating transparency in a “book and claim system” across the entire supply chain, DNV highlighted.

The verification was awarded at this year’s SMM Hamburg trade fair. DNV also announced an upgrade to its emissions data verification and data management platform, Emissions Connect, which will enable the maritime sector to handle the commercial challenges and risks that come with the implementation of FuelEU Maritime.

DNV noted that the update comes at a crucial time as the industry is grappling with the requirements that take effect from January 2025.

Emissions Connect was first launched in 2023 to support the industry with the operational impact of multiple regulatory requirements and decarbonization trajectories.

Specifically, it helps the industry manage and control Carbon Intensity Indicator (CII) performance, manage the commercial obligations arising from the European Union’s (EU’s) Emissions Trading System (ETS) and now also the implementation of FuelEU Maritime.