ENVIRONMENTAL
- Environmental Management Practice
- Climate Change Response
- Greenhouse Gas and Energy Management
- Environmental Impact Management
- Investment in Green Vessels
Vessel GHG Reductions
Inventory Management
We developed a GHG inventory system by identifying and listing emission sources to statistically manage and monitor GHG emissions. This system allows us to collect data on each vessel’s fuel oil consumption and GHG emissions, including CO2, CH4, and N2O in real time and manage them by vessel, vessel type, and year. Taking advantage of the infrastructure and ample data to systematically manage GHG emissions, we will actively respond to heightened GHG regulations applicable to the shipping industry.
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GHG Emissions Verification
Since 2009, we have been voluntarily collecting data and managing GHG emissions from our onshore and offshore operations. CO2 emissions are monitored for each vessel, and we have the results verified by a third-party institution to ensure the objectivity of the emissions calculation. This verification process is based on the analysis and data collection system built by Pan Ocean, which has been certified by DNV GL based on the principles provided in the ISO GHG Protocol and the IMO Guidelines. We also use the verified data for preferential tax treatments for green vessels.
Regulatory Response to IMO DCS and EU MRV
We submit data collected from our fleet to the IMO annually and have them certified under the IMO DCS, a system that reports fuel oil usage and greenhouse gas emissions for vessels navigating internationally. Subject to the EU MRV regulation applicable to vessels calling at ports in EU member countries for cargo operations, we also report annual data on these vessels for verification. To this end, we built our own IMO DCS and EU MRV reporting systems. We also have the data and capabilities to swiftly and systemically respond to ever-changing GHG regulations.
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GHG emissions from vessels by year
