DNV, zero44 introduce cloud platform for EU ETS

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DNV, zero44 introduce cloud platform for EU ETS

Digital solutions provider, zero44, and Veracity, the independent maritime cloud platform from DNV, have announced a partnership to jointly support their customers with the EU Emission Trading System (EU ETS).

zero44 customers receive a software application focused entirely on all aspects of GHG regulations, including a full set of features for managing the EU ETS. 

Successful compliance with the system and management of the associated cost risk requires ship owners, ship managers, DoC holders, charterers, operators, and cargo owners to agree on each party’s role and responsibility of who will buy EU Allowances (EUAs), who will bear the cost and who will carry the compliance risk.

They also must adapt their mutual contracts accordingly (shipman agreements, charter agreements) and exchange data as well as EUAs or money regularly. The total cost risk to manage per vessel can add up to more than a million euros per year.

The zero44 software reportedly helps all involved parties to keep track of the flow of allowances and money and provides direct access to EUA trading as well as the Union Registry. The solution covers all charter types and business models (time charters, voyage charters, off-hires, idle periods) as well as all stakeholder perspectives (owner, charterer, manager) and supports ETS invoicing, ETS payments, and ETS trading activities.

READ: MOL, 123Carbon partner to tokenise GHG emission reductions

The Veracity Integrated Partner (VIP) programme was launched in 2022 to help shipowners add ease and efficiency to their emissions reporting process. As part of the programme, established data providers connect with the Veracity platform and provide a continuous feed of consented and real-time data onto the platform.

In Veracity, the data is quality assured according to the established Operational Vessel Data (OVD) standard and verified by DNV. Common customers thereby reduce their manual efforts and can enjoy automatic processing of data from the vessel to verification.

Partnering with software solution provider zero44, Veracity extends the VIP programme to include data-consuming partners. Together, the partners aim to enable common customers to truly maximise the value of their real-time verified emissions data. Through the connectors in the Veracity Data Workbench, customers can reportedly set up an automatic flow of verified data from Veracity into zero44’s EUA settlement solution.

This was an important reason for Gram Car Carriers to choose both companies as solution providers, according to zero44. Basing their EU ETS transactions on verified data was a must-have requirement for the publicly listed company. At the same time, zero44 stated that it is important for Gram Car Carriers to document all the processes around EUA buying, EUA invoicing, and EUA surrendering in a reliable digital solution.

READ: Lloyd’s Register advises efficient vessel deployment for EU ETS compliance

“We are very excited about this partnership,” said Friederike Hesse, Founder and CEO of zero44. Continuous data verification after each voyage is crucial to account for EUA settlements between stakeholders.

“Integrating with Veracity and Emissions Connect enables our customers to base their EUA or cash invoices on verified data to help them avoid claim management and bad surprises at the ETS submission deadline in September 2025.

“And through the partnership our EU ETS offering now is truly ‘plug-and-play’ – if you are an Emissions Connect customer, you can switch on zero44 by the click of a button in your Veracity Data Workbench.”

READ: EU ETS: What we know so far

Barry Authers, Head of Partners in Veracity by DNV, added: “In Veracity, we want to make it easier for customers to gain credibility in their data, and maximise its value.

“For the last two years, we have integrated with data providers to automate the process of turning raw, unstructured operational data into verified emissions data in real time. We are now very excited to take this to the next step, partnering with solution providers such as zero44.

“Together, we enable our common customers to maximise the value of their data, as they can seamlessly apply the verified data they receive in the Veracity Data Workbench into the zero44 EUA settlement solution.

“The integration between our platform and zero44’s solution will make the workflow easier for users and secure credibility in numbers.”

In October 2023, Global Shipping Business Network (GSBN) signed a Memorandum of Understanding (MoU) with DNV to promote decarbonisation and the adoption of alternative fuels by enabling the sharing of verified data for green claims.

More recently, DNV published a suite of recommended practices (RPs) that will enable companies operating critical devices, assets, and infrastructure to safely apply artificial intelligence (AI).

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