SINGAPORE marine fuel provider KPI OceanConnect has completed its first carbon offset transaction with a respected seismic research vessel owner, the company announced.
"The voluntary carbon units are derived from a wind farm in Texas and verified by Verra Registry," said a company statement.
"The announcement from KPI OceanConnect comes at a critical time for the marine fuels supply chain as it faces an acute need to reduce emissions and make genuine decarbonisation progress," said the statement.
Carbon offsets allow for emissions and CO2 output to be balanced with the purchase of an equivalent qualified offset. This means purchasing verified carbon units that are equivalent to the CO2 production from emissions.
Said KPI OceanConnect CEO Soren Holl: "As an agile and innovative marine fuels provider, we hold a prime position in helping to facilitate decarbonisation in shipping."
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