|Delta Energy launches carbon credit desk for bunkers and cargoes|
|New trading desk aims to support growing ESG demands of owners and cargo charterers.
|Delta Energy has been offsetting barge carbon emissions by investing in biomass and organic waste projects in India. Image credit: Intermalte | Pixabay|
|Updated on 04 May 2022 13:05 GMT
Delta Energy reports that it has set up a carbon credit trading desk to support the growing environmental, social, and corporate governance (ESG) demands of ship owners and cargo charterers.
The firm supplies marine fuel in the UK and Antwerp, Amsterdam, and Rotterdam (ARA) region, and, since March 2021, has been offsetting CO2 emissions from its barges with the purchase of Verra and Gold Standard carbon credits through its partnership with commodity supply, logistics and technology company Numerco.
An online summary for Delta Energy shows that over the last year, the company has been offsetting delivery vessel emissions by investing in a biomass project in Gujarat, India, and a nationwide organic waste management programme, also in India.
For the Gujarat project, groundnut shells — a renewable biomass — are sourced locally and used as a replacement for fossil fuel to generate steam and electricity for the drying process during starch production. The annual average reduction in CO2 emissions is estimated to be 26,457 tonnes of CO2 equivalent (tCO2e).
The nationwide scheme, meanwhile, involves the use of organic waste — instead of fossil fuels, non-renewable wood and grid electricity — to generate renewable biogas. As well as promoting the use of bio-fertilizer, the project is also designed to help generate employment opportunities.
Summary data from Numerco shows that since March 1, 2021, Delta has offset 445 metric tonnes of barge-supplied marine distillate volume, equating to 1,427.83 tCO2e. The barges are listed as the Till Deyman, MTS Antwerp and Distributer.
And now, as a further step, clients are being offered the ability to offset their broader petroleum product cargoes or bunker purchases through Delta's trading team.
As part of UK-registered Delta Corp Holdings, Delta Energy is able to provide Delta Corp Shipping clients with the option to offset the transportation of bulk cargoes.
Mudit Paliwal, CEO and owner of Delta Corp Holdings, commented: "This is a vital step in the evolution of Delta Corp as a responsible business with the aim to minimize our carbon footprint and that of our customers. We see increased interest from shipowners and charterers wanting to undertake carbon neutral voyages ... and this is an added service to our clients."