The Maritime and Port Authority of Singapore (MPA) and the UN Global Compact Network Singapore (GCNS) have signed a memorandum of understanding (MoU) to help strengthen the maritime industry's capacity in carbon accounting and management.

The MoU continues the partnership between MPA and GCNS to enhance sustainability capabilities in the maritime sector. This collaboration includes a previous MoU signed in 2017 to deliver sustainability reporting training to maritime companies.

In the announcement, MPA said the MoU was further expanded to include the Singapore Shipping Association (SSA) in 2021 to support the development of capabilities in carbon accounting through training and recognition.

Through the initiative, 15 companies have since been awarded the Maritime Singapore LowCarbon50 Award over the past three years for their decarbonisation plans and accurate carbon accounting.

"Under the new MoU signed, MPA and GCNS will collaborate with key industry associations, including the Association of Regional Ferry Operators, the Association of Singapore Marine & Offshore Energy Industries (ASMI), the Singapore Association of Ship suppliers and Services (SASS), and SSA to train their members through workshops on the use of the Carbon Emissions Recording Tool (CERT) to measure and monitor their companies carbon emissions," the announcement said.

It added that the MoU partners will work together to develop training workshops to meet the carbon accounting and management needs of maritime companies, including information sharing on green financing and funding schemes that maritime companies can tap into to reduce their deployment cost of low and zero-carbon emission technologies and vessel designs.

"This MoU with GCNS reaffirms the importance of carbon accounting and management tools to help maritime companies accurately measure, report and verify their carbon emissions. We look forward to collaborating with GCNS and industry associations to help maritime companies meet their emission targets and compliance requirements," said Teo Eng Dih, chief executive of MPA.

Veronica Lai, vice president of GCNS, said, the company is delighted to strengthen this vital partnership with MPA and the trade associations of ASMI, ARFO, SASS and SSA.

"We firmly believe that collaboration within the industry is essential for advancing Singapore's maritime decarbonisation efforts, and this MoU is a testament to that commitment," she said.

"We look forward to working hand in hand with MPA and our industry partners to equip local companies with the resources and knowledge to effectively manage their emissions. We are excited to support and facilitate the maritime sector in navigating their transition towards a low-carbon future."

Simon Kuik, president of ASMI, said that Marine & Offshore Energy is transforming, pivoting towards greener and cleaner product solutions.

"Our sector is building up ESG competencies across its value chains. Through the ASMI Decarbonisation Champion Initiative launched in April 2023, we have trained 86 individuals from 33 companies so far and aim to train a further 160 for our member companies," he said, adding that this MPA-GCNS-Industry MoU marks another significant milestone of our collective journey, contributing to the effective decarbonisation and green transition of the sector.

Danny Lien, president of SASS, said that SASS is looking forward to this collaboration with MPA, GCNS and the respective maritime associations to train and prepare the ship supplies industry in its decarbonization journey.

"Equipping the industry with resources, know-how, and best practices will certainly help accelerate the net zero transition in the maritime industry. SASS and its members are committed to the Singapore maritime industry's net-zero goal," Lien added.