Stena Line is reporting a significant increase in the number of customers expressing an interest in considering insetting options when it comes to their carbon emissions reduction strategies for 2025.
Carbon insetting focuses on creating initiatives that reduce carbon emissions throughout the entire supply chain and business operation. The initiatives can vary from transitioning to renewable fuel alternatives, collaborating with suppliers and stakeholders to improve energy efficiency or contributing to other key areas of emissions reduction and are paid for as part of a flexible pricing arrangement between Stena Line and its customers.
To date, carbon offsetting has been the most traditional approach to reduce emissions through external projects or initiatives that are not directly related to a company’s business. For example, the promise to plant trees to compensate the carbon emissions on a service being used.
The major benefit of insetting is that it can leverage initiatives being delivered by a particular company across its business and doesn’t specifically have to be in the region a particular customer of that business operates in, as outlined by Stena Line’s Emelie Åström, Group Manager Strategic Commercial Development at Stena Line.
“A good example of insetting is Stena Line’s current pilot project on the Stena Jutlandica, which operates on the Gothenburg-Frederikshaven route where 20% biofuel has been mixed with 80% conventional fuel. Although this route is not used directly by customers based around Stena Line’s Irish Sea routes, these customers can nonetheless derive carbon emissions benefit for their carbon footprint through insetting which can contribute to a reduction in their scope 3 emissions.”
Emelie added: “Irish Sea based Stena Line customers can claim insets from Stena Line’s wider consumption of certified biofuels or other low-greenhouse gas fuel vessels as part of their own strategies to reduce their carbon footprint. Insetting customers will be issued with a certificate and statement by Stena Line which serves an official assurance that the emissions reductions are genuine and auditable.”
Stena Line currently offers a range of insetting customer pricing options across its Irish Sea services.
More details are available at https://stenalinefreight.com/insetting/.