Press Release: Technology company ZeroNorth and Energy LEAP, a strategic alliance between energy majors, together with other industry partners have published a draft proposal for consultation for a Vessel Emissions Reporting Standard (VERS 0.9), the organisations have announced today. This work is the initial outcome of broader work towards defining and releasing a noon report standard.
The new open standard is the culmination of eight months of consultation and collaboration with ship owners, charterers, energy majors, association bodies and software vendors, and sets out to enable emissions reporting required by law, supporting decarbonisation and regulatory compliance.
A standard way of managing and reporting emissions data is fundamental to tracking progress and ensuring compliance with the IMO’s decarbonisation goals. VERS 0.9 aims to create a standard outlining the data points that should be collected on a daily basis. This will improve the quality of the data operators collect, as well as further assist owners in reporting on emissions at the end of each year.
Vessel data that is collected today is based on past industry data needs. As the industry evolves and new requirements around environmental reporting arise, noon reports or vessel reports also need to adapt. A new standard is needed to enable owners to overcome the challenges of both required and voluntary emissions reporting.
Broader industry context, including continued discussion about how the industry reports its own environmental impact, has intensified the need for collaboration. There is now a growing recognition for industry-agreed data standards, as a foundation for any roadmap for genuine emissions improvements. VERS 0.9 will provide a validated data set to advise vessel owners and operators on what data needs to be collected to ensure they are able to respond to today’s ever-increasing environmental and commercial reporting requirements.
In this way, the standard sets out the data required to facilitate regulatory and voluntary emissions reporting. VERS 0.9 can be used by vessel reporting providers such as ZeroNorth to understand the data points that need to be incorporated into their solutions, or as a checklist for owners to ensure the right data is being captured by crew across their fleet.
VERS 0.9 is designed for both daily data collection, aligning with traditional noon report approaches, and for the possible collection of data at key or significant points during a voyage. Other information covered by the standard includes the specific charter party clauses that are agreed upon when planning a voyage, fuel consumption, cargo carried, and CII correction factors.
The proposed standard marks the first step on a wider roadmap aimed at defining a standard which enables the full current range of emissions reporting requirements. Once adopted, this will bring a step-change in the capability of industry players to deliver on their emissions reporting obligations.
In all, VERS 0.9 will improve the regularity of emissions data being captured by ships, powering up the industry’s ability to make a real impact on reducing emissions. The standard has been published for a period of industry consultation and will be finalised as version 1.0 once consultation is completed in September 2023.
Speaking on the announcement, Lora Jakobsen, Chief Purpose Activist, ZeroNorth, said: “We’re proud to be part of the cross-industry working group that has worked together with Energy LEAP and other industry leaders to develop a vessel emissions reporting standard. As our industry grows increasingly complex, it’s critical that we work together to match our environmental actions with robust reporting requirements.
“Making global trade green will take multilateral action across the value chain. Creating a standard data set to be collected daily on vessels is critical to ensure owners can enhance emissions reporting, set benchmarks and accurately measure the amount of CO2 currently being emitted, and ultimately improve on those emissions.”
VERS 0.9 has been developed by a working group led by Energy LEAP, with ZeroNorth bringing its direct expertise in optimising voyages, vessels, fleets and bunker to the collaboration. As a continued part of its mission to global trade green, ZeroNorth has also facilitated engagement with its own Impact Today working group, helping to broaden engagement on the VERS 0.9 standard.