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Furetank offsets remaining emissions for Vinga series of newbuilds – reaching zero for 2021

17 Dec 2021

Donsö-based tanker shipping company Furetank on Thursday (16 December) said it has compensated all remaining emissions from the four Vinga vessels owned by Furetank for the entire year of 2021 through carbon offsetting.

The carbon offsetting is specifically for Furetank’s new Vinga series of ships that feature a 55% reduction of CO2 emissions compared to the previous generation of vessels.

The goal is to reach zero by running the vessels entirely on renewable, liquid biogas, but today the supply is just not sufficient, notes Lars Höglund, CEO of Furetank.

“I feel great about halving the emissions from the new ships, we have done everything we possibly could to limit our climate footprint. But we don’t want to settle there. To show that we are serious in our ambitions and push forward even further, we turn to climate compensation,” he states.

Carbon offsetting involves purchasing an amount of certified carbon credits equivalent to the CO2 emissions caused by one’s operations. Each credit corresponds to one tonne of CO2.

The credits are certified through Gold Standard, the world’s most acknowledged climate compensation registry, approved by the WWF and other renowned organisations, according to Furetank.

They validate and transfer funding to renewable energy projects worldwide, accelerating the global transition away from a fossil-based economy.

Furetank worked with Suad Januzzi, sales trader at STX Commodities, a global trading firm in environmental commodities, for the arrangement.

“There is a saying: ‘Do your very best, offset the rest’. After making every effort to reduce your own emissions, purchasing carbon credits is a way to take accountability for your remaining impact,” notes Januzzi.

“At the same time you strengthen the global system that puts a price on CO2 emissions and benefits the UN sustainable development goals.

“We are proud to work with true leaders in the field like Furetank. They have already come further than most by switching fuels. This compensation doesn’t remove remaining emissions, but everyone needs to set up a strategy and start from where they stand.”

 

Photo credit: Furetank
Published: 17 December, 2021

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