DNV rolls out ETS and CII emissions reporting platform

DNV has called its new platform Emissions Connect and said it is designed specifically to address the impact of the European Union’s new Emissions Trading System (ETS) legislation and International Maritime Organization’s (IMO) Carbon Intensity Indicator regulations.

"The EU ETS, due to be phased in from 2024, will require the Document of Compliance (DoC) holder, typically the shipowner or manager, to surrender EU Allowances based on the annual level of emissions and the CII rating measures how efficiently a vessel transports goods or passengers.

"The EU ETS will expose DoC holders to significant financial risk, as emissions costs will be factored into contracts between stakeholders to ensure fair distribution. CII is becoming a factor in charter terms, creating balance sheet risk and impacting shareholder value, access to capital and commercial attractiveness. In this context, the collecting, managing and sharing of accurate and reliable data will be crucial," DNV said.

“Annual aggregated data reports will no longer be sufficient to manage and control ETS allowances and CII performance. Transparency on a trusted and verified voyage statement based on daily real-time reporting of data will be an essential basis of commercial contracts,” DNV digital business development director Pål Lande said.

The platform is built on DNV’s Veracity Data Workbench and DNV said the new system offers an emissions data baseline that is digitally verified, providing verified voyage statements that can be used to facilitate ETS allowance settlements. The tool’s emissions performance simulation also allows operators to project a vessel’s future CII score and plan for EU ETS allowances.

Emissions data provided by the shipowner is verified by DNV and shared with customers "for self-service in settlement of transactions or other purposes such as compliance reporting, exporting and secure sharing with partners and third parties, including banks and insurance companies adhering to the Poseidon Principles," DNV said.