Developed by AkzoNobel’s Marine Coatings business, International® and FReMCo, this first of its kind, peer-reviewed methodology will allow ships to generate carbon credits, thus income, for the CO2 emission reductions they achieve.

The methodology is based on ship owners and operators converting existing vessels from a biocidal antifouling system to a premium, biocide-free advanced hull coating. A baseline emission level is determined for the vessel prior to the application of the coating with the same data source then used to determine the emission savings after the application. The carbon credits generated are directly related to reduced emissions as a result of reduced fuel consumption.

Using a results based finance approach, carbon credits are awarded annually, based on vessel data that is collected, analysed and submitted to The Gold Standard Foundation for validation.  For the Intersleek® hull coating, the first to be eligible under this methodology, this process will be administered by International®.

This significant landmark for sustainability within international shipping will act as a further incentive to drive an increase in the uptake of eco-efficient technologies, as ship owners and operators can additionally benefit from their investment in advanced hull coatings.

Adrian Rimmer, CEO of The Gold Standard Foundation, said, “This pioneering initiative will help to increase the uptake of clean technologies in the international shipping industry and credibility is key to its success. The Gold Standard looks forward to continuing its work with International® and the broader maritime sector as it develops its environmental credentials, enabling owners and operators to benefit from the commercial and reputational advantages of sustainable business.”