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 builds on the long-standing collaboration between MPA and GCNS to raise sustainability capabilities in the maritime sector, which includes an MoU signed in 2017 to provide maritime companies with training on sustainability reporting. The MoU was further expanded to include 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 today, MPA and GCNS will collaborate with key industry associations, including the Association of Regional Ferry Operators, Association of Singapore Marine & Offshore Energy Industries (ASMI), the Singapore Association of Shipsuppliers 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 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 on to reduce their deployment cost of low and zero-carbon emission technologies and vessel designs.