Braemar gets into the carbon offset business

Braemar has become the latest broker to launch a digital platform to offset vessel and cargo emissions.

Braemar Offset has teamed with Zuma Labs to offer carbon offsets which can also be transacted directly on Braemar Screen, a platform for trading dry bulk forward freight agreements (FFAs).

Carbon offsets enhance top-line growth through the premiums that more sustainable services command, Braemar stated in a release, in a similar way to the premium that ‘eco’ vessels have in the charter market today.

Tris Simmonds, Braemar’s COO, commented, “Shareholders, financiers, and customers now frequently link ESG factors to a company’s long-term viability. Shipping companies that underperform in this area increasingly find it harder to access capital, to recruit and retain staff, and endure a growing regulatory burden. Braemar Offset is the first step in our plans to provide an end-to-end bespoke sustainability solution for our clients. We’ve already integrated it with Braemar Screen, and we look forward to announcing soon how we’ll be further enhancing our sustainability offering.”

Jack Richards, associate director at Braemar, added, “We are already seeing clauses in charter parties that require the capture of emissions data. The next logical step will be clauses which specify a voyage is to be carbon neutral.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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