CARBON INSETTING – ACCELERATING MARINE BIOFUELS GROWTH

Carbon insetting refers to the financing of climate protection projects within a company’s own value chain. The emission reduction benefits of biofuels can be attached to products being transported on other vessels not burning biofuels on unrelated voyages.

The biofuel industry certification system is now mature enough and adequate solutions are available to trace proofs of sustainability, therefore avoiding the risk of double-counting and misrepresentation.

Insetting is a flexible and recognized method to reduce Scope 3 emissions for companies aiming to sell low carbon or zero carbon goods. The practice monetizes the unexploited value of biofuel and creates an incentive cycle to lower, if not fill, the price gap between fossil fuels and biofuels.