zero44 launches “one-stop shop” solution for participation in EU emissions trading
Summary
A large proportion of companies are not yet sufficiently prepared for this – for them zero44 now offers an EU ETS solution that covers all processes and obligations of emissions trading. In order to prevent major financial risks, EU ETS settlements are needed that are carried out during the year close to the time of each completed voyage. zero44s software solves all three challenges: It enables intra-year accounting of the required emission allowances; efficient coordination between all involved stakeholders; and adaptation of the Union Registry through the transferral of data from the Union Registry and assignment to the relevant accounting periods, vessels and stakeholders. The functionalities of the solution include a daily updated measurement of emissions based on vessel consumption data; a planning tool for calculating EU ETS costs of future voyages or periods as well as determining the financial EU ETS risks in the whole year; mapping of charter and ship management contracts regarding EU ETS; and partnerships with data verification providers such as DNV, Swiss Climate, Verifavia or Korean Register, as well as EUA traders such as GreyEpoch, CF Partners, Aither, Belektron, Vertis, Greenstar Capital, World Kinect Energy Services and marketplaces such as enmacc. Friederike Hesse, co-founder and Managing Director at zero44, explains: "Since January this year, we have been working intensively on our EU ETS solution and, together with our development partners, have examined the complexity of regulation from all perspectives.