Proactive Emissions Monitoring: A Path to Enhancing Cost Efficiency and Operational Performance
In this era of heightened awareness about climate change and sustainability, it is crucial for shippers to prioritize emission monitoring and compliance. By doing so, they can contribute to a greener future while also reaping the benefits of reduced costs, enhanced reputation, and improved customer loyalty.
The purpose of implementing the ETS surcharge is to redirect funds towards the advancement of European Energy generation. European Union allowances (EUAs) are readily available for purchase on various exchanges. Additionally, they can be obtained through the over-the-counter market, facilitating transactions between carriers and customers.
However, shipping companies have recently issued warnings to shippers regarding the unpredictable nature of surcharges, which are influenced by the supply and demand of international trade.
In concrete terms, shippers will have to do three things:
- Forecast the impact of ETS surcharges using historical data on CO2 emissions.
- Prepare to verify that the amount of ETS surcharges invoiced by carriers corresponds to the actual CO2 emissions of their shipments.
- Optimize their transport strategy for each shipment to limit CO2 emissions and the related surcharges.
In the face of these challenging circumstances, effectively navigating day-to-day operations can be quite a task. That's where BuyCo comes in, providing a solution that empowers operational teams to play an active role in achieving corporate decarbonization goals.
A TMS to Take Control of Your CO2 Emissions
BuyCo is an innovative container shipping platform. With a cutting-edge methodology for calculating CO2 emissions, this platform empowers shippers to effortlessly report on their shipments, regardless of the shipping line, trade lane, or Incoterms. Leveraging GLEC-accredited data, BuyCo provides a seamless and reliable solution that perfectly aligns with corporate auditing requirements.
Using BuyCo, shippers can not only forecast their carbon footprint on each shipment but also take proactive steps to reduce their carbon footprint. By analyzing historical data and incorporating real-time information, BuyCo provides shippers with valuable insights into the environmental impact of their shipping choices. The platform considers factors such as route optimization, vessel selection, and alternative transportation modes to suggest the most environmentally friendly options.
BuyCo provides shippers with recommendations on the best shipping option to select based on their specific business criteria, including cost, allocation compliance, and CO2 emissions volume. Then, shippers can conveniently book their shipments through BuyCo after receiving these suggestions.
Additionally, shippers can plan the best route, helping to reduce CO2 emissions. The algorithm computes freight routes with minimal carbon impact yet the fastest transit time and chooses the best ports accordingly. Thus, BuyCo lets shippers instantly find the greenest routes, taking into account the vessel type, vessel speed, distance, and selection of the closest port to the destination.
With BuyCo, shippers master their CO2 emissions by making informed decisions and optimizing their shipping processes. By leveraging the data about their consumption, they can accurately calculate the cost of ETS.
“We understand the urgency of addressing climate change. We are committed towards creating a sustainable ecosystem in the supply chain industry with our innovative solution to support decarbonization in container shipping operations.”
Carl Lauron, CEO of BuyCo.
To learn more about how BuyCo can assist you in forecasting the carbon footprint of each shipment and proactively taking steps to reduce it, contact us:
