The UKCS needs to continue recent good work on emissions and cost reduction with a logical evolution to a more collaborative approach in areas like marine logistics where cost savings and CO2 reductions are sought.
The sector faces challenges from North Sea Transition Agency Stewardship Expectations 11 (Net Zero) and 12 (Supply Chain Collaboration and Cooperation) as well as requirements around ESG reporting and non-financial disclosure. This takes account of IFRS SASB and other schemes for investment decision making.
The International Sustainability Standards Board (ISSB) voted in October 2022 to enhance IFRS reporting standards for greenhouse gas (GHG) emissions to incorporate Scope 3 emissions. As a result, all operators will be required to report supply chain emissions where deemed material based upon the GHG Protocol Corporate Standard. The GHG Protocol Corporate Standard requires companies to have in place effective emissions inventory quality processes and reporting standards and to have emissions verified and GHG reduction targets assigned.
The increased complexity of such operations and the need for accredited monitoring and reporting has brought three organisations together, in a logical service sector collaboration to provide the industry with a comprehensive solution that at its core, deploys artificial intelligence (AI) to optimise operations.
The combined offering from PlanSea, Vysus Group and SICCAR will also contribute towards ameliorating the impact of marine resource shortages now being predicted.
The three organisations have a joint vision to improve operating efficiencies for operators and the offshore renewables sector, by reducing costs and Scope 1, 2 and 3 emissions by applying AI-based software, block chain and specialist emissions management capability.
PlanSea uses AI to find more efficient routing opportunities for vessels, Vysus Group uses emissions modelling expertise to calculate accurate metrics of emissions reductions, and SICCAR uses block chain to provide assurance of reported fuel consumption and operational activity.
Building on previous work, emissions and blockchain functionality will be integrated into PlanSea’s suite of software tools. This will enable users to minimise emissions and costs through scenario/option evaluations and ongoing performance monitoring.
The benefits to the end user include compliance with expectations, policy, codes and standards, improved efficiencies and reduced operational costs, lower emissions and the creation of a platform for new business models.
You can view an unabridged version of a recent case study prepared by PlanSea, Vysus Group & SICCAR, published in the recent OEUK Supply Chain Report, here – A collaborative approach to logistics and emissions optimisation (vysusgroup.com).