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MPA and GCNS Collaborate with Maritime Industry to Strengthen Capacity in Carbon Accounting and Management

Strengthening Sustainability in Singapore's Maritime Industry

The Maritime and Port Authority of Singapore (MPA) and the UN Global Compact Network Singapore (GCNS) have signed a memorandum of understanding (MoU) to enhance the maritime industry's capabilities in carbon accounting and management. This MoU builds on a long-standing collaboration between MPA and GCNS, aimed at raising sustainability standards within the maritime sector.

Since their initial MoU in 2017, MPA and GCNS have been providing maritime companies with training on sustainability reporting, which expanded in 2021 to include the Singapore Shipping Association (SSA) for carbon accounting training. As a result, 15 companies have received the Maritime Singapore LowCarbon50 Award over the past three years for their efforts in decarbonization and accurate carbon accounting.

Under this new MoU, MPA and GCNS will partner with key industry associations such as the Association of Regional Ferry Operators, Association of Singapore Marine & Offshore Energy Industries (ASMI), Singapore Association of Ship Suppliers and Services (SASS), and SSA. Together, they will conduct workshops on using the Carbon Emissions Recording Tool (CERT) to monitor and manage carbon emissions.

Additionally, the partners will develop workshops to address carbon accounting needs and share information on green financing options and funding schemes to help maritime companies adopt low and zero-carbon technologies.

Leadership Insights:

• Mr. Teo Eng Dih, Chief Executive of MPA, emphasizes the MoU's role in providing maritime companies with the tools to measure, report, and verify carbon emissions accurately, helping them meet emission targets.

• Ms. Veronica Lai, Vice President of GCNS, highlights the collaboration's importance in advancing Singapore's maritime decarbonization efforts and equipping local companies to manage emissions effectively.

• Mr. Simon Kuik, President of ASMI, shares about the sector's transition to greener solutions and the importance of building ESG competencies across value chains.

• Mr. Danny Lien, President of SASS, notes the collaboration's role in accelerating the maritime industry's net-zero transition through training and resource sharing.

• Ms. Caroline Yang, President of SSA, underscores the partnership's alignment with SSA's 2030 Vision and the broader industry transition towards a greener future.

Together, these partnerships and initiatives signal a significant step forward in Singapore's commitment to a sustainable maritime future. 

SOURCE: UN GLOBAL COMPACT