GSBN, GCMD pen data sharing partnership agreement

GSBN, GCMD pen data sharing partnership agreement

Global Shipping Business Network (GSBN) has signed a knowledge partnership agreement with the Global Centre for Maritime Decarbonisation (GCMD).

The partnership aims to help bridge the transparency gap between digitalisation and decarbonisation by enabling the secure and scalable exchange of data pertaining to decarbonisation initiatives.

According to a recent report from UMAS and UN Climate Change High Level Champions, decarbonising the global shipping industry is estimated to require between $1 trillion to $1.4 trillion in investment.

GCMD is a non-profit organisation which aims to help the shipping industry lower greenhouse gas (GHG) emissions meet the International Maritime Organisation’s goals for 2030 and 2050.

To bridge this gap and successfully achieve a low-carbon future, there are many challenges that need to be addressed.

READ: MSC, GCMD collaborate for decarbonisation efforts

Core to this is a need to accurately measure and track emissions reduction data across the supply chain to ensure compliance, access to green financing, and provide accountability of decarbonisation investments. 

GCMD and GSBN will collaborate to identify use cases along with co-designing corresponding studies and pilots to demonstrate the effectiveness of using a blockchain platform to enable decarbonisation of the maritime sector at scale.

A data infrastructure like GSBN can integrate data across the supply value chain from stakeholders, including shipping lines and terminals, to inform decision making and thus accelerate maritime decarbonisation. 

Bertrand Chen, CEO at GSBN, said, “Shipping lines and their customers want to have the choice of different alternative fuels and solutions.”

READ: GSBN, ONE collaborate to further maritime digitalisation

Chen added that there is an increasing need for trusted, granular data to support decision making and prove claims of sustainable shipping.

“By combining GCMD’s work in driving decarbonisation with our trusted data infrastructure, we can together accelerate and empower the shift towards a low carbon future in shipping,” explained Chen. 

Professor Lynn Loo, CEO at GCMD, stated, “We are excited to have GSBN come onboard as a Knowledge Partner.

“GCMD recognises the importance of data security and trust to improve decision-making, attract investment, and ultimately accelerate decarbonisation of the industry,” added Loo.

Loo credited how GSBN’s specialisation in data infrastructure complements GCMD’s domain and technical expertise in decarbonisation.

He believes that this combination will increase transparency and build stakeholder confidence in GCMD’s collective journey towards zero-carbon shipping.

In March 2023, GSBN, COSCO, OOCL and SICIT announced a collaboration on blockchain technology for cargo transportation.

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