TURNKEY’S TECHNOLOGY ENABLES MARITIME SECTOR TO REPORT ON IMO SUSTAINABLE SHIPPING REQUIREMENTS

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13th November 2019

Turnkey’s Technology enables the Maritime Sector to report on IMO Sustainable Shipping Requirements.

 

Turnkey’s Sustainability Technology supports Shipping Industry to report on the International Maritime Organisation (“IMO”) regulations: IMO 2020 and IMO 2050.

From January 1st 2020 onwards, all seagoing vessels will have to reduce sulphur oxides (SOx) by 85%. The new regulation was set by the IMO to cut sulphur oxide gas emissions, protect public health and support the environment. Vessels must use marine fuels with a maximum sulphur content of 0.5% compared to the current limit of 3.5%. 

Turnkey’s Technology, via its Environmental Impact & Logistics Module, digitalises data on Sulphur Oxides (SOx)Nitrogen Oxides (NOx)Particulate Matter (PM) and Carbon Dioxide (CO2). Apart from the KPIs listed above, Turnkey provides real-time operational analytics on other environmental KPIs including Fuel, WaterWaste, Material, Lubricant, Refrigerant, enabling carriers and shippers to have a full transparency on their sustainability performance in order to comply with industry standards as well as identify opportunities to increase efficiencydrive financial performance and enable live strategic decision-making. On top of that, Turnkey’s Carbon Module enables registry and trading of carbon on the Carbon Trade Exchange (CTX).

Turnkey is the technology backbone for the BSR’s Clean Cargo measurement of emissions generated via ocean freight. Clean Cargo is the leading buyer-supplier forum for sustainability in the cargo shipping industry that engages 85% of global ocean container capacity and 95% of cargo transport buyers in Clean Cargo. Turnkey, as CCWG technology provider, digitalises each participating companies data and carbon produced.

According to the IMO, “shipping will be essential to the UN’s vision for sustainable development, providing a dependable, energy-efficient and low-cost way to transport more than 80 percent of the world’s trade.”

Turnkey’s data can be used to help funding according to the Poseidon Principles, a new global framework for responsible ship finance. The Poseidon Principles framework for assessing and disclosing the climate alignment of ship finance portfolios is consistent with the policies and ambitions of the International Maritime Organization (IMO), including its ambition for greenhouse gas emissions to peak as soon as possible and to reduce shipping’s total annual GHG emissions by at least 50% by 2050.

To learn more information on how Turnkey’s Technology supports sustainable shipping, click here.

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