Verra, the organisation behind the Verified Carbon Standard (VCS) programme, has released a new methodology — VM0053 Alternative Low-Carbon Fuels for Shipping, v1.0 — which it says provides the first structured, independent accounting framework for quantifying greenhouse gas emissions reductions in maritime transport.

The methodology applies to project activities involving the use of low-carbon alternative fuels to replace fossil fuels aboard ships. Eligible fuels include hydrogen produced through water electrolysis, green ammonia, and electro-fuels (e-fuels) such as e-LNG, e-LPG, e-diesel, and e-methanol. According to Verra, the methodology applies to both new and existing vessels, regardless of gross tonnage, operating in territorial waters or on the high seas.

Maritime shipping carries over 80% of global freight and is widely regarded as a hard-to-abate sector, where reducing greenhouse gas emissions has proven challenging. Verra claims that VM0053 can help unlock finance for low-carbon alternative fuels by creating a new revenue stream that could offset the cost premium associated with e-fuels. The methodology also supports the use of drop-in alternative fuels that can be used in the engines of existing fleets and, according to Verra, provides a mechanism for sourcing, verifying, and scaling reductions in value chain emissions.

VM0053 was developed by Iino Kaiun Kaisha, Ltd., Grütter Consulting, and Verra. The methodology underwent public consultation in 2024 as part of Verra’s methodology development process.