Furetank offsets remaining emissions – reaching zero for new ships 2021

In the striving for zero climate impact, it is impossible to eliminate all emissions at once. With the new Vinga vessel series, Furetank has more than halved CO2 emissions. Now the company offsets the rest of their impact through certified carbon credits, all the way down to zero for 2021.

Through an optimized ship design and LBG/LNG propulsion, Furetank’s new Vinga series has reached a 55% reduction of CO2 emissions compared to the previous generation of vessels. The goal is to reach zero by running the vessels entirely on renewable, liquid biogas, but today the supply is just not sufficient.

– I feel great about halving the emissions from the new ships, we have done everything we possibly could to limit our climate footprint. But we don’t want to settle there. To show that we are serious in our ambitions and push forward even further, we turn to climate compensation, says Lars Höglund, CEO of Furetank.

Certified carbon credits

The company has compensated all remaining emissions from the four Vinga vessels owned by Furetank for the entire year of 2021. The method used is carbon offsetting, which means purchasing an amount of certified carbon credits equivalent to the CO2 emissions caused by one’s operations. Each credit corresponds to one tonne of CO2.

The credits are certified through Gold Standard, the world’s most acknowledged climate compensation registry, approved by the WWF and other renowned organisations. They validate and transfer funding to renewable energy projects worldwide, accelerating the global transition away from a fossil-based economy.

Do your best – offset the rest

Furetank worked with STX Commodities, a leading global trading firm in environmental commodities. Suad Januzzi, sales trader at STX in Gothenburg, states that some emissions are unavoidable for most companies today, and that climate change is a global problem. Where on the map a tonne of carbon dioxide is reduced or emitted is in fact irrelevant: it is our total impact that counts.

He finds that for leading companies, carbon compensation is a small part of the overall climate strategy.

– There is a saying: ”Do your very best, offset the rest”. After making every effort to reduce your own emissions, purchasing carbon credits is a way to take accountability for your remaining impact. At the same time you strengthen the global system that puts a price on CO2 emissions and benefits the UN sustainable development goals, says Suad Januzzi.

– We are proud to work with true leaders in the field like Furetank. They have already come further than most by switching fuels. This compensation doesn’t remove remaining emissions, but everyone needs to set up a strategy and start from where they stand.

News to be expected in 2022

For Furetank, supporting production of biogas and solar power 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 all the way down to zero, with lots of new progress to be revealed during 2022.

– I feel great about this compensation, I am certain that it makes a difference. We believe it is the right way to go: to help others do the best thing alongside our own efforts, says Lars Höglund.