UK-based classification society Lloyd’s Register (LR) has formed a strategic partnership with H2C, the global attribute market platform for low-carbon fuels, to speed up maritime fuel switching.
According to LR and H2C, the partnership aims to foster greater confidence in the allocation of emissions claims across maritime value chains, thereby accelerating investment in clean fuels, including biofuels, e-fuels, and green hydrogen derivatives.
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For its part, LR intends to provide assurance that the claims rights embedded in Green Premium Certificates (GPCs) are valid, exclusive and appropriately priced, helping GPC buyers demonstrate compliance under schemes such as FuelEU Maritime , the IMO’s Lifecycle Assessment Guidelines and the Corporate Sustainability Reporting Directive (CSRD).
Under the collaboration, the H2C registry is expected to enable the environmental attributes of low-carbon fuels to be contractually separated from the fuel molecules themselves, allowing many downstream actors, such as shipowners, cargo operators, and retail brands, to contribute to green fuel financing through the purchase of unbundled certificates.
LR will also provide price discovery services to guide certificate issuance on the H2C market, thus addressing a core barrier to transition: the inability of high-volume, low-margin shipping companies to absorb green premium costs at the point of fuel use, the partners explained.
“Our collaboration with Lloyd’s Register ensures that certificates represent defensible, auditable claims for emissions reporting,” said Peter Ellen , CEO of H2C.
“More importantly, this assurance gives the market confidence to fund premiums and accelerate deployment. It is about creating the economic conditions for transition, so that producers can produce, shipping companies manage compliance costs and green shipping services provide value added revenue.”
Nick Gross , LR’s Global Containerships Segment Director, added: “Shipping must decarbonise, but it cannot do so alone. By assuring the provenance and claims integrity of certificates, LR helps buyers across the supply chain fund and verify their contribution, without relying on offsetting or unverified market instruments.”
10 days ago
about 10 months ago
UK-based classification society Lloyd’s Register (LR) has formed a strategic partnership with H2C, the global attribute market platform for low-carbon fuels, to speed up maritime fuel switching.
