METIS Cyberspace Technology added new functionality to its cloud-based Total Emissions Management solution.
In particular, this solution allows ship owners and operators to make best use of the EU Emissions Trading Scheme (ETS).
According to METIS, as well as supporting IMO’s Data Collection System metrics for a ship’s Average Efficiency Ratio and Carbon Intensity Indicator, and EU monitoring reporting and verification, the new capability means that METIS can help owners manage the complexities of carbon allowances.
Expanding to include maritime transport from next year, the EU-ETS will apply 100% for EU-EU voyages and 50% for EU-Non EU voyages. It aims to cut greenhouse gasses using a combination of emissions trading and emissions allowances for ships.
Additionally, cargo and passenger ships of 5,000 GT and above must account for emissions from 1 January 2024, in order to ‘surrender’ their first trading allowances by 30 September 2025. The ETS will also cover offshore ships from 2027.
Moreover, once per year, companies submit an emissions report for each ship and aggregated data into the ETS. The progressively more stringent scheme requires ships to surrender emissions allowances, starting at 40% of emissions in 2024, rising to 70% in 2026, and reaching 100% thereafter.
Capturing CO2 emissions data and reporting with the accuracy per voyage and cumulatively on which the ETS relies, METIS also allows users to establish the monetary value of equivalent allowances based on current EU carbon market rates.
In addition to determining the number of allowances required, METIS will help to assign costs to the charterer or the manager based on the ‘polluter pays’ principle.
“Accurate data capture is crucial for ETS reporting, but METIS Total Emissions Management is also a comprehensive digital tool for emissions management that provides the framework for the predictive insights to help owners take evidence-based, effective decisions,” said Eleni Polychronopoulou, CEO of METIS Cyberspace Technology.
