RCS - Braemar Shipping - Launch of Braemar Offset

BraemarAnnouncement

30/06/2022 07:15

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RNS Number : 7091Q  Braemar Shipping Services PLC  30 June 2022

 

RNS
Reach
30 June 2022

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Braemar launches digital platform to offset vessel and cargo emissions

 

·    Braemar Offset enables shipowners and operators to easily track,
measure, and offset their vessels' and  cargoes' unavoidable emissions

·    Through a portfolio of climate solutions vetted by ESG experts, users
can reduce their carbon footprint efficiently and effectively by utilising
Braemar Offset

·    Through Braemar's partnership with Zuma Labs, Braemar Offset is
integrated with the Venetian
(https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjck5Xlt774AhWKNcAKHXi6D1IQFnoECAgQAQ&url=https%3A%2F%2Fwww.zumaltd.com%2Fvenetian&usg=AOvVaw1o5ZP_3tSZpoELBF3Px926)
trading platform, enabling clients to also transact directly on Braemar Screen
(https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiUmMzbt774AhWWS0EAHVM3BDkQFnoECAoQAQ&url=https%3A%2F%2Fwww.braemarscreen.com%2F&usg=AOvVaw1uZ430kGd5WICde_pvu__B)
, a platform for trading dry bulk Forward Freight Agreements (FFAs)

·    Braemar is wholly committed to the importance and power of carbon
offsets, and has been carbon neutral since 2017

 

Braemar, expert advisors in shipping investment, chartering, and risk
management, today announces the launch of Braemar Offset
(https://www.braemaroffset.com/) , a digital platform that enables its clients
to reduce their carbon footprint in a measurable, effective and efficient way.
Science-based emission reductions are now a baseline expectation for maritime
companies, and carbon offsetting - a decarbonising activity to compensate for
unavoidable emissions elsewhere, which is one of the tools that shipping will
utilise to achieve net zero.

 

Braemar Offset provides a diverse and regularly replenished portfolio of
offset projects to ensure certainty of supply. Only projects that are
transparent, environmentally robust,  verified and vetted by sustainability
experts are included. The projects include sustainable agroforestry on the
Guatemalan conservation coast, protecting habitats for critically endangered
species in Indonesia, and helping to reduce air pollution in Jiangxi province
in China.

 

Carbon offsets are particularly important for companies that have set net zero
targets; work in sectors that face strong end user or political pressure; or
who are committed to going above and beyond current IMO ambitions. Primarily
this is because a strong ESG proposition helps companies address new markets
and expand into existing ones, but it also enhances top-line growth through
the premiums that more sustainable services command, 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."

 

David Holland, Associate Director at Braemar, commented, "As a Sale and
Purchase shipbroker there are few subjects more important right now than ESG
factors. Minimising future emissions is important for EEXI and CII, but
retrofits or switching to new fuels won't completely neutralise unavoidable
emissions or help capture historical emissions. Many of the shipowners I speak
with see carbon offsetting as a necessary supplement to their emissions
reduction strategy."

 

Jack Richards, Associate Director at Braemar, commented, "We are already
seeing clauses in charterparties that require the capture of emissions data.
The next logical step will be clauses which specify a voyage is to be carbon
neutral. While the long-term emphasis must of course be on harnessing new
technologies and alternative fuels as our industry navigates its way towards a
greener and more sustainable future, carbon offsetting offers the opportunity
to make an immediate positive impact."

 

ENDS

 

About Braemar Shipping Services plc ("Braemar")

Braemar provides expert advice in shipping investment, chartering, and risk
management to enable its clients to secure sustainable returns and mitigate
risk in the volatile world of shipping.

 

Our experienced brokers work in tandem with specialist professionals to form
teams tailored to our customers' needs, and provide an integrated service
supported by a collaborative culture.

 

For more information, including our investor presentation, please visit
www.braemar.com (http://www.braemar.com) and follow Braemar on LinkedIn
(https://www.linkedin.com/company/braemar-ltd/) .

 

Contact

Nick Arthur

Head of Corporate Affairs

+44 7732 874708

nick.arthur@braemar.com (mailto:nick.arthur@braemar.com)

 

Buchanan

Charles Ryland / Stephanie Whitmore / Jack Devoy

Tel +44 (0) 20 7466 5000

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