METIS Cyberspace Technology has added new functionality to its cloud-based Total Emissions Management system to allow ship owners and operators to more effectively manage their activities as part of the EU Emissions Trading Scheme (ETS).
The updated system will support IMO’s Data Collection System metrics for a ship’s Average Efficiency Ratio and Carbon Intensity Indicator, as well as EU monitoring, reporting and verification, and management of carbon allowances.
To comply with the EU ETS, shipping companies need to monitor emissions under a revised plan that has been assessed by a verified organisation and approved by the administering authority. Once per year, companies submit an emissions report for each ship and aggregated data into the ETS.
The progressively more stringent scheme requires ships to surrender emissions allowances, starting at 40% of emissions in 2024, rising to 70% in 2026, and reaching 100% thereafter.
The METIS software will capture CO2 emissions data and report on a per voyage and cumulative basis, as well as allowing users to establish the monetary value of equivalent allowances based on current EU carbon market rates.
In addition to determining the number of allowances required, the application will help to assign costs to the charterer or the manager based on the ‘polluter pays’ principle.
“Accurate data capture is crucial for ETS reporting, but METIS Total Emissions Management is also a comprehensive digital tool for emissions management that provides the framework for the predictive insights to help owners take evidence-based, effective decisions,” said Eleni Polychronopoulou, CEO, METIS Cyberspace Technology.
“The solution allows owners to bring emissions management into the day-to-day decision-making for optimising vessel performance.”
“Our expectation is that, as the ETS unfolds, customer feedback will stimulate further enhancements in functionality to reflect the realities of the scheme.”