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AkzoNobel’s Marine Coatings business, supplier of International advanced hull coatings and The Gold Standard Foundation have announced a unique marine-based methodology to reward the improved fuel efficiency of ships within the international maritime industry.
Certification by The Gold Standard for the 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 such as Intersleek. A baseline emission level is determined for the vessel prior to the application of Intersleek with the same data source then used to determine the emission savings after the application of Intersleek. The carbon credits generated are directly related to lower 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 for Intersleek, administered by International and submitted to The Gold Standard Foundation for validation. Fuel savings generated are verified by independent UN accredited auditors.