Tanker and general shipping services shipbroker Simpson Spence Young (SSY) has launched a carbon desk and offsetting service, part of a wider strategy which includes making SSY’s global offices carbon neutral
To help clients achieve their own decarbonisation strategies, SSY will offer a fully-rounded service in both compliance and voluntary offsets, futures and options coverage. SSY will engage with a range of businesses that can supply high-quality portfolios to meet its clients’ varying needs.
SSY Futures senior director Duncan Dunn, commented “The new carbon desk will be supported by our inhouse research team and data from our partnerships with Signal Ocean and Marine Benchmark. These underpin SSY’s ability to accurately estimate a vessel’s future emissions or provide a complete audit of its actual emissions.”
SSY will showcase this expertise through an online client portal, due to be launched next month, where shipping market professionals can get an overview of the carbon markets, along with up-to-date information on global and European carbon emissions.
This platform will also be linked to the EEX Carbon in Shipping index which is due to be launched next month.
EEX head of global commodities Richard Heath explained “As a major player in both the freight and carbon markets, we have a duty of care and a responsibility to help our customers navigate through the decarbonisation process and ensure they manage their exposure effectively.”
In addition to outlining its roadmap for facilitating sustainable change in the shipping sector, EEX also unveiled its latest sustainable shipping initiative – a new Zero Carbon Freight Index. Launching on 12 July, the new index will show a daily ’synthetic’ FFA rate inclusive of 100% carbon reduction.
SSY is also working towards its own carbon neutrality, by reducing emissions and collaborating with leading carbon offset provider Respira International.
SSY will also work with Respira and a range of other providers to identify high quality offset projects for its clients.
SSY chairman Mark Richardson commented “Maritime transport accounts for around 2.5% of global emissions and the reduction of greenhouse gases is fast becoming a top priority for many of our clients. We recognise the importance of providing a complete end-to-end service for all our customers, and our new offering will support them through their carbon journey.”
He added, “Reducing our impact on the planet is also important for us as an organisation, which is why we have committed to all our offices becoming carbon neutral. I am pleased to say that we are well on our way to achieving this.”
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