BVS, Engie establish low-carbon advisory and risk management partnership
BVS, Engie establish low-carbon advisory and risk management partnership - Offshore Energy
BVS, Engie establish low-carbon advisory and risk management partnership
French Bureau Veritas Solutions Marine & Offshore (BVS) and compatriot energy company Engie have formed a low-carbon advisory and risk management partnership for the shipping industry.
Specifically, BVS joined forces with Engie’s entity Global Energy Management & Sales (GEMS), the energy management arm of Engie.
The partners will develop a suite of advisory and market access services to help shipping interests thoroughly understand upcoming regulatory requirements, manage their risk and identify the optimal low-carbon emissions roadmap for their operations.
Specifically, this partnership aims to provide vessel owners, operators and charterers with the expertise and insight they require in managing their marine fuels and carbon prices exposures in the context of an increasingly differentiated marine fuels market, by fuel type, geographic location, and carbon intensity.
This will provide BVS and GEMS’s customers with “a low carbon emission transportation roadmap that fits with their commercial and operational requirements and aligns with their risk management needs“.
“This partnership brings together GEMS’s experience in the analysis and trading of energy products, including emission allowances under the EU Emissions Trading System (ETS), with BVS’s technical advisory and consultancy expertise in the marine and offshore sectors, to offer commercial and risk-management solutions to owners, operators and charterers looking at how to best manage their present and future low-carbon operating models,” the partners highlighted.
In February this year, Engie announced it is moving to the second stage of its strategic plan, stepping up growth in the energy transition with an emphasis on renewables.
The group said its 2021-23 strategic plan has been successfully executed and the time has come to move on to the second stage.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”