Grimaldi Group Awarded Shipping Industry's Largest Ever Carbon Credit Issuance, Says AkzoNobel

Grimaldi has been presented with a total of 109,617 carbon credits by AkzoNobel.

Grimaldi Group (Grimaldi) has been awarded the largest number of carbon credits ever issued in the shipping industry, Akzo Nobel N.V. (AkzoNobel) announced today.

Grimaldi has been presented with a total of 109,617 carbon credits by AkzoNobel's marine coatings business after 14 of its vessels, including Ro-Ro, PPC, cruise, and passenger ships, were validated and verified through AkzoNobel carbon credits programme.

As Ship & Bunker has previously reported, the programme is intended to reward ship owners who have converted vessels to a bunker-saving, biocide-free advanced hull coating.

"Being awarded the largest ever issue of carbon credits demonstrates Grimaldi's commitment to its social and environmental responsibilities, and to pioneering the market in developing transport and logistics solutions that are founded on sustainability," said Paul Kyprianou, Grimaldi's External Relations Manager.

"The shipping industry is under significant pressure to improve operational and environmental efficiencies and AkzoNobel's carbon credits program is an initiative that can play a significant role in helping achieve this."

Each carbon credit is said to represent the prevention of one tonne of CO2 from being emitted into the atmosphere, with the credits to be either be sold on the carbon markets – valued at more than $500,000 based on current prices – or used to offset emissions from other operations within an organisation.

"Shipping needs to see more uptake in clean technology to improve its sustainability. Our carbon credits program proves that by making the investment, ship owners can benefit from both increased efficiency gains and lower fuel costs," said André Veneman, AkzoNobel's Director of Sustainability.

"They also reap the additional financial benefits of the credits, based on the amount of carbon that is reduced."

AkzoNobel notes that a total of 126,785 carbon credits have been awarded to ship owners so far in 2016, with more than 50 vessels currently enrolled in the carbon credits program.

In April, AkzoNobel announced the launch of a new antifouling biocide, Intercept 8500 LPP, that the company said would "revolutionise" the biocidal coatings market.