Danish shipping company Norden has signed a sustainable maritime fuel offtake agreement with technology conglomerate Meta.
Under the agreement, Meta will seek to decarbonize its maritime supply chains in line with the goal of reaching net-zero emissions across the company’s value chain in 2030.
“At Meta, we have a goal to reach net zero emissions across our value chain in 2030. 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 decarbonise our value chain at the pace and scale required to achieve our emissions reduction targets,” said Devon Lake , Head of Net Zero Strategy at Meta.
The technology firm will use Nordern’s emissions reduction solution, known as Book & Claim. The solution offers burning biofuel on a Norden-operated vessel and the emission reduction is allocated to a third-party customer 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.
The ISCC-certified biofuel has 80-90% life cycle emission reduction potential and is a drop-in substitute that can be utilized by existing vessels, Norden explained. The emissions reduction is authenticated by an independent verifier, Normec Verifavia , and transacted on an external registry through 123Carbon .
“Our Book & 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,” Anne Jensen, COO at Norden, added.