Swedish oil operator Furetank has announced that with its new Vinga series of ships, the company has cut its CO2 emissions by more than half and through the use of certified carbon credits, these can be reduced to zero.
Thanks to an optimized vessel design and LBG / LNG propulsion, the new Furetank Vinga series achieved a 55% reduction in CO2 emissions compared to the previous generation of vessels. The goal is to achieve zero by running the ships entirely on renewable liquid biogas, but today the supply of this fuel is insufficient.
“I feel good about halving the emissions from new ships, we have done everything possible to limit our climate footprint. But we don’t want to settle there. To show that we are serious in our ambitions and that we are going even further, we are turning to climate compensation ”, said Lars Höglund, CEO of Furetank.
The company has offset all remaining emissions from the four Vinga vessels for the whole of 2021. The method used is carbon offset by purchasing an amount of certified carbon credits. Credits are certified by Gold Standard, a recognized climate compensation registry approved by WWF and other organizations. They validate and transfer funding to renewable energy projects around the world, accelerating the global transition to a fossil-based economy.
Furetank worked with STX Commodities, an environmental commodities trading company. Suad Januzzi, sales manager at STX in Gothenburg, said some emissions are unavoidable for most companies today and climate change is a global problem. It doesn’t really matter where on the map a ton of carbon dioxide is reduced or emitted – it’s our total impact that matters.
He notes that for large companies, carbon offsetting is only a small part of the overall climate strategy. “There is a saying, ‘Do your best, make up for the rest.’ After making every effort to reduce your own emissions, purchasing carbon credits is a way to take responsibility for your remaining impact. At the same time, you are strengthening the global system that puts a price on CO2 emissions and benefits the United Nations sustainable development goals, Januzzi said. “We are proud to work with real leaders in the field like Furetank. They’ve gone further than most when it comes to changing fuel. This compensation does not eliminate the remaining emissions, but everyone must put in place a strategy and start from where it is ”.
For Furetank, supporting the production of biogas and solar energy through carbon credits is not a final destination but a good step on the way. Meanwhile, they continue to work on reducing their own emissions to zero, with many new progress to be revealed in 2022. “I feel good with this offset, I’m sure it’s making a difference. We believe this is the right way to go: helping others do the best thing alongside our own efforts, ”concluded Höglund.