In the very dynamic market of sustainable logistics, it’s difficult to keep track of the latest news and insight. Our new quarterly newsletter is designed to keep you up to date on the latest market developments, as well as news, insight and success stories from 123Carbon and our platform users – and we are starting this year with a bang!
 
In our first edition, we tell you more about our collaboration with IATA, share the latest updates from SBTi, introduce our new Managing Director APAC, and highlight customer stories from Mitsui O.S.K. Lines, DP World, Norden and Norfolk Southern, the first (US-based) rail operator to join our platform.
 
We also share our plans during Smart Freight Week ’25, which will be held from March 18-20 in Amsterdam. As a diamond sponsor for this year’s event, 123Carbon will join over 700 global experts to discuss the latest development with regards to sustainable logistics.
 
To get prepared for Smart Freight Week, 123Carbon – and partners – will organise a unique and exclusive warm-up event on March 17^th, in one of the most beautiful locations of Amsterdam, the A’dam Tower’s “The Loft”. Read on for further details regarding the event and how to register your attendance.
 
Earlier this month, Science Based Targets initiative (SBTi) announced the formation of Expert Working Groups to assist in revising their Corporate Net-Zero standards. A second market consultation will also be launched as part of this process. The environmental attribute certificate (ECA) Book & Claim community is keenly anticipating the outcomes of this revision. For hard-to-abate sectors urgently seeking decarbonization solutions, Book & Claim is essential. It uniquely enables seamless transactions between supply and demand, driving forward the decarbonization agenda like no other mechanism can.
 
At 123Carbon, we remain optimistic and committed to working alongside the market to 'share the impact' and accelerate transparent, verified supply chain decarbonization efforts.

123Carbon News

Meet James Veale: Managing Director APAC & new business

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123Carbon to leverage its technology into new markets

Carbon insetting plays a part in creating the market and rewarding early investment. The 123Carbon platform will separate the environmental attribute certificate (EAC), the evidence that hydrogen has a lower carbon footprint compared to conventional, from the actual physical hydrogen. The EAC can then be marketed anywhere in the world  - say to industrial hydrogen customers looking for green hydrogen  as they need to book the scope 3 benefits, but with only access to conventional.
 
The 123Carbon platform manages this "hydrogen swap," which guarantees that the electrolyser's original green hydrogen is ‘swapped’ and is now classified as grey/conventional (no double counting) as well as recording the chain of custody and managing all the legal documentation and certificate transfer. The upside? the electrolyser receives a premium from the industrial customer  - possibly that their local market would have been unable to support, making their CAPEX business case more viable. In this way we build a ‘virtuous circle’ – rewarding early investors in green electrolyser tech, finding customers across the globe in a skinny market, getting economies of scale, driving the cost of green hydrogen down and ultimately accelerating the timeline to make green hydrogen the norm.

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New platform functionalities

Introducing Fuel Certificates

In addition to Insets, we have introduced Fuel Certificates to the platform. These verified certificates, which can be issued by fuel suppliers only, represent a specific amount of metric tonnes of low-carbon fuel and it’s CI score. They allow for the fuel accounting component of the book and claim. These fuel certificates can either be marked as reported on behalf of a fuel mandate (e.g. FuelEU Maritime, RefuelEU or EU ETS) or turned into scope 3 certificates (EAC’s) for further distribution towards downstream partners. The conversion can be done with either primary or default data. The Fuel Certificates can also be used in a direct project to initiate the digitalisation process. This means less work and assurance costs for carriers seeking to create scope 3 certificates. The advantage for a fuel supplier is that they do not need to transfer the PoS to their customers, as this will be verified by an assurance firm and the relevant data will be on the Fuel Certificate. Just like Insets, Fuel Certificates can be allocated to downstream partners and can be managed separately on the 123Carbon platform. You can navigate to your Fuel Certificates in the top navigation bar.

Automated calculation templates

Given the wide scope of our platform (all modalities, all technologies), the Inset calculations were managed outside of the platform. Since recently, we also offer the option to manage the most important calculations directly in the platform. We have successfully developed and implemented automated calculation templates, allowing for easy creation of interventions, reduce errors and manual effort. In collaboration with one of our certificate issuers, we created a solution that allows interventions to be set up effortlessly, simply input the necessary parameters, and the platform automatically calculates emissions with precision and efficiency. Interested in implementing automated calculation templates for your organization? Contact us to explore the possibilities!

Self-registration of users and Branded Platform customers

For Branded Platform owners, we now offer the option to activate “self-registration”. This means that an owner of a Branded Platform can invite its customers to onboard their platform, simply by sending them an email, based on which the customer can self-register on the platform and create a receiver wallet. This functionality can also be used by all wallet owners to add new platform users to an existing wallet.

Branded platform updates

We now allow for further customization of our branded platforms. Customers with a Branded Platform can add background videos to the login screen and further tailor platform colours, ensuring full alignment with their corporate identity and enhancing their customer proposition.

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Dealing with FuelEU Maritime 

The Global Maritime Forum and the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping recently published a position paper on how mandates like FuelEU Maritime influence additionality for carbon insetting in the maritime industry. Supported by organizations such as the Smart Freight Centre, the paper proposes a contractual approach that allows parties to generate carbon insets within the EU, provided the fuel volumes involved are not used for FuelEU Maritime compliance.

Aligned with this position, we have expanded our accountability framework by developing a FuelEU Maritime declaration. This enables stakeholders to create carbon insets within the EU that are additional for fuel volumes that are not used for FuelEU Maritime compliance. By doing so, we help ensure that the maritime industry can supply the market with trustworthy, high-integrity carbon insets.

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Entering new Book & Claim markets

Recently, we have received multiple requests from the market to also address other hard-to-abate industries where book and claim can play a pivotable role in scope 3 decarbonisation. Led by James Veale, we have spent the last few months doing research on the most interesting book and claim markets where we could leverage our technology to support market decarbonization.

This has led to interaction with several standards setters, NGOs and private companies to bring new insetting models to the platform. By creating independently verified EACs in the new materials, producers can get the premium reward to reinvest and achieve economies of scale, and the material buyers get the scope 3 reduction benefits and the assurance that their purchase is funding the lower carbon material revolution. And you can help too. We are specifically looking for companies who would be interested in taking part in a proof-of-concept trial, specifically for green hydrogen, steel, chemicals and concrete &cement.

If you are interested to learn more, please contact James at james@123carbon.com and see how we can support you in sharing your impact across other industries.

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Smart Freight Week ‘25: 123Carbon as Diamond sponsor

Smart Freight Week ’25 is quickly approaching, and as a Diamond sponsor of this year’s event, we wanted to share our plans with you.
 
As part of the event programme, 123Carbon – in association with leading industry partners – will be hosting two seminars. The first session, “Market Based Measures, status & perspectives” will be held on Tuesday 18^th March at 14:30, in the Plenary Room, and will focus on book-and-claim methodologies, their current position within the market, and how they can be used as an essential tool to facilitate multi-modal decarbonization strategies.
 
The second session, “MBM solutions playground: available pathways for decarbonisations”, will be held on Wednesday 19^th March from 11.00 – 12.00 in the Studio. This session will focus on exploring several pathways through which freight forwarders can get access to environmental attributes. During this session, where Jeroen van Heiningen will hold the keynote speech, 123Carbon will announce a new collaboration with a unique EAC matchmaker, supporting freight forwarders and cargo owners to access high quality EAC’s on the 123Cabon platform. The session will also explore the dynamics of buyer alliances and direct engagements with carriers or fuel providers. We will have a joint look at different solution pathways and engage with industry experts during a Q&A session where we will explore how different approaches can be tailored to diverse needs and starting points.
 
We are looking forward to talking to you at Smart Freight Week 2025

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To kick off what promises to be a bumper event programme during Smart Freight Week, 123Carbon will be hosting an exclusive warm-up event on 17^th March, at The Loft, in the The A’dam tower.
 
In collaboration with some of our leading platform partners including, DP World, Mitsui O.S.K. Lines, and Norfolk Southern, the evening will bring together a unique group of experts to discuss the latest innovations in multi-modal Book & Claim. You will gain detailed insight into how these industry leaders have implemented their book & claim programmes, as well as getting a sneak preview of the EAC matchmaker partnership that will be announced during Smart Freight Week. For forwarders and cargo owners present during this evening, it will be a unique opportunity to learn how they can gain access to the first Zero Emission, deep-sea EAC’s, generated by a transatlantic, 100% solar powered vessel.
 
Drinks and food will be accompanied by several engaging presentations from innovative book & claim initiatives, who will be sharing exclusive insight into the latest developments within the industry.
 
Availability for the event is limited, so make sure you book your spot, here.

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123Carbon supports Mitsui O.S.K Lines, Ltd (MOL) in the launch of its “Blue Action Net-Zero Alliance"

This announcement follows the successful completion of a pilot programme with 123Carbon in 2024, which made MOL the first shipping company within the APAC region to issue EACs of low-emission voyages using alternative fuels, tradable on 123Carbon’s platform.
 
Following the pilot, MOL has established a system that can ensure operations from implementing low-emission voyages using alternative fuels in the MOL’s fleet, to issuing ECAs and allocating them to customers.
 
Read on for an exclusive interview with MOL regarding their latest initiative.

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DP World launches Carbon Inset Programme Trial with 123Carbon

Through their two deep water ports in Southampton and London Gateway, registered importers moving cargo will earn a 50KG inset certificate for every loaded import container travelling through DP World’s terminals. This will achieve direct emissions reductions within their supply chain.

The insets will be generated by Unifeeder’s Green Box platform, also operating on the 123Carbon platform. A subsidiary of DP World, Unifeeder’s branded book-and-claim programme was developed in partnership with 123Carbon to record the deployment of lower carbon fuel usage in their Northern European container vessel network, from which inset certificates will be generated for each tonne of carbon saved.

The trial programme will run for an initial six months, and it is projected that if 50% of the import volume coming into Southampton and London Gateway take part in the trial, over 11,000 tonnes of traditional fossil fuel will be replaced by lower carbon marine fuel alternatives. This represents a 10,000 tonne reduction in CO2 emissions.

The carbon reduction credits will be managed on the 123Carbon platform and issued quarterly to all importers that have registered their participation in the trial.

For more information and to register your interest in the initiative, please email EnergyTransition.uk@dpworld.com

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Norden signs sustainable maritime fuel offtake agreement with Meta

As part of this agreement, 123Carbon has been selected as the preferred platform for verifying, issuing, managing, and transferring the ECAs generated through biofuels within this partnership.

Norden-operated vessels that use biofuel will be able to allocate their emissions reductions to Meta using the Smart Freight Centre’s framework. This will accurately quantify and report the level of emissions reductions achieved during vessel operations. These emissions reductions are then authenticated by independent verifier, Normec Verifavia and transacted on 123Carbon’s independent registry, ensuring accuracy and transparency of the insets throughout the process.

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NYK and Yusen Logistics embrace 123Carbon’s platform to manage GHG emission reductions

With regards to their maritime operations, NYK and YL will leverage biofuels in its bulk shipping division, enabling verified GHG reductions. These reductions, verified by a third party, will be allocated to YL and confirmed through official certification.
YL is also spearheading initiatives to procure further GHG reductions. By collaborating with NYK’s shipping services and its airline partners, they will establish the same insetting process to monitor and verify the emissions reductions achieved through the use of sustainable aviation fuel (SAF).

This partnership not only utilizes 123Carbon’s registry service, but they have also established a branded platform which will allow them to directly engage with their customer-base in relation to their low carbon activities. We are thrilled to be part of NYK and YL’s inspiring journey.

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International Air Transport Association partners with 123Carbon to support interoperability between SAF registries

123Carbon has partnered with the International Air Transport Association (IATA) to enhance interoperability between SAF registries, prevent double counting, and streamline certificate management. As IATA is preparing the launch of their SAF registry, they have partnered with 123Carbon on registry interoperability.

The collaboration focuses on building a API between the platform, where through the identification of unique identifiers, such as the Proof of Sustainability number of the SAF, potential double issuance can be detected. Both parties will also focus on developing a process to solve any potential double issuances. Though 123Carbon has a very strict legal framework in place to prevent double issuance, the integrity of insets is now further ensured through this technological development. This partnership strengthens trust in SAF certificates and underscores our commitment to advancing aviation decarbonization and sustainable solutions.
 
Please contact us if you would like to be part of the pilot projects we are operating to test this interaction.
 
Click here for the full press release

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MOL Interview

Following the exciting announcement from Mitsui O.S.K Lines, Ltd (MOL), in February, we spoke to Assistant Manager from MOL, Dai Miyata, about their BLUE ACTION NET-ZERO ALLIANCE and the role of insetting in supporting the decarbonization of the global supply chain.

What is the BLUE ACTION NET-ZERO ALLIANCE, and what impact will it have on MOL’s decarbonization efforts?

The "BLUE ACTION NET-ZERO ALLIANCE" is a carbon inset program offered across the MOL Group. By partnering with stakeholders involved in marine transportation, MOL aims to develop and expand low-emission marine transportation services through the use of alternative fuels, helping shippers and NVOCCs reduce their own scope 3 emissions.

As part of the "BLUE ACTION 2035", the MOL Group’s Corporate Management Plan, we have outlined our vision to address sustainability issues. MOL is proud to of established a clear investment plan aligned with the Environmental Strategy to support a clean marine fuel supply chain, along with optimising fleet operations. Through this program, our aim is to deepen dialogues with our stakeholders in marine transportation and strive to offer low-emission marine transportation services in line with our customer’s needs, while making strategic environmental investments to achieve these goals.

In your opinion, how important is the role of carbon insetting in supporting the decarbonization of the global supply chain?

(MOL) It is said that carbon insetting based on a book and claim chain of custody approach addresses the constraints on transport decarbonization due to its flexibility, we fully agree this.

Through its flexibility and secure book and claim chain of custody, we believe insetting is the industry’s best approach to addressing the decarbonisation of the global supply chain.

One of the standout features of 123Carbon’s approach is that each EAC provided on 123Carbon’s platform includes detailed datapoints about the specific low-emission profile of the transportation service. This allows buyers of EACs to assess whether a particular low-emission service is worth supporting.

For shippers and NVOCCs joining the BLUE ACTION NET-ZERO ALLIANCE, purchasing EAC’s is an effective way to express their preferences regarding the types of low-emission marine transportation services they want to support, such as the type of fuel used or the location of fuel supply.

As a responsible member of the supply chain and a carrier which has a fleet of over 800 vessels and one of the shareholders of Ocean Network Express, we will actively promote the right environmental investments. By carefully listening to the feedback from shippers and NVOCCs in the BLUE ACTION NET-ZERO ALLIANCE, MOL believes these voices will significantly contribute to the decarbonization of the global marine transportation supply chain.

What drew you to working with 123Carbon for the initial pilot programme in 2024?

(MOL) Since 2023, we have been tackling the challenge of promoting low-carbon methanol as a marine fuel. At MOL, we operate a fleet of bulk carriers and tankers, where typically only one charterer is involved in a voyage. To replace such vessels with methanol-fueled ships and switch from heavy fuel oil to low-carbon methanol, we would need the charterer to bear significant additional costs, which posed a limitation for us.

One potential solution to overcome this is the book & claim methodology. In April 2023, I came across Norden's press release announcing their partnership with 123Carbon to issue carbon inset tokens. This inspired me to consider partnering with 123Carbon, in hopes of finding a way to address the challenges we faced.

What are the next steps for the BLUE ACTION NET-ZERO ALLIANCE?

(MOL) While carbon insetting is not new to the maritime industry, it’s largely been confined to the niche intersection of "container ships" and "Europe." To further amplify this momentum, it is essential to expand carbon insetting beyond the container ship segment and into regions outside of Europe. MOL has a strong presence in these areas, and I am committed to playing a key role in promoting carbon insetting within these segments.

To achieve this, we encourage existing inset buyers to join the BLUE ACTION NET-ZERO ALLIANCE and support MOL. By doing so, they will help MOL expand the scope of carbon insetting, ultimately benefitting all those within the maritime supply chain.