ENGIE and BVS team up for advisory and risk management partnership
Collaboration will offer support to shipowners, operators, and charterers on navigating upcoming GHG Regulatory requirements
Bureau Veritas Solutions Marine & Offshore (BVS), part of Bureau Veritas, is joining forces with ENGIE's entity Global Energy Management & Sales (GEMS), the energy management arm of ENGIE, to develop a suite of advisory and market access services to help shipping interests to thoroughly understand upcoming regulatory requirements, manage their risk and identify the optimal low-carbon emissions roadmap for their operations.
This partnership aims to provide vessel owners, operators and charters with the expertise and insight they require in managing their marine fuels and carbon prices exposures in the context of an increasingly differentiated marine fuels market, by fuel type, geographic location, and carbon intensity. This will provide BVS and GEMS's customers with a low carbon emission transportation roadmap that fits with their commercial and operational requirements and aligns with their risk management needs.
Paul Shrieve, President of Bureau Veritas Solutions Marine & Offshore, said:
"For customers facing unprecedented complexity in global energy markets and an increasingly diverse marine fuels landscape, this partnership between BVS and GEMS offers a one-stop-shop for clarity and expert guidance on developing the appropriate fleet GHG strategy, and associated risk management. Understanding the operating profile of your vessels, your marine fuel requirements and GHG impact is an essential step, but it's important to also understand how that translates into a low-carbon operating model that meets your operating needs, spanning different vessel types and fuels, and different regions and regulatory regimes."
Marc Pannier, Executive Committee member at ENGIE business entity 'Global Energy Management & Sales', said:
"In an increasingly complex carbon market, the move to include maritime emissions in the EU Emissions Trading System is another important consideration for shipping organisations that want to chart a course towards a low-carbon roadmap that meets their fleets' needs and cuts their emissions, whilst also limiting their exposure to price volatility. Through this partnership with BVS, we will work with shipping organisations to develop and execute strategies that manage the risks they face and seize the opportunities in today's global energy markets through the right choice of hedging tools, as well as carbon offsetting solutions."
By assessing the energy consumption and carbon emissions of an organization's fleet, trading patterns and routes, in conjunction with access to global energy markets and a wide range of risk management strategies, BVS and GEMS will help developing the optimal solution for commercial exposure and carbon objectives.
This will include support on how to best align an organization's GHG emissions reduction strategies with the proposal from the European Commission's 'Fit for 55' package regarding the progressive inclusion of emissions from maritime transport in the EU ETS, and the upcoming FuelEU Maritime initiative.
BVS and GEMS will also guide owners, operators and charters on the evolving regulatory and voluntary landscape for managing carbon emissions from shipping operations, including current and impending regulatory requirements, as well as advice on managing their wider sustainability footprint. This can also include the opportunity for carbon offsetting strategies and products, as part of a wider low-carbon strategy.