G2 Ocean launches biofuel-backed certificates for Scope 3 transport emissions

G2 Ocean on June 24 launched Emission Reduction Certificates, a book-and-claim product tied to verified biofuel-based cuts for transport-related Scope 3 emissions.

Any company with transport emissions can buy the certificates, even if its cargo does not move on a specific low-emission G2 Ocean voyage. The reductions are separated from the physical shipment and issued as digital certificates in a blockchain-connected registry designed to track ownership and reduce double counting or double claiming.

Revenue from certificate sales will be reinvested in new biofuel voyages, creating a cost-sharing model to narrow the gap between conventional marine fuel and lower-carbon blends. Arthur English, G2 Ocean’s chief executive, said the service is intended to give customers a practical way to cut transport emissions while supporting use of lower-emission fuels. Sigrid Bakken, the company’s ESG and Communications director, said the certificates are backed by audit documentation for climate reporting.

The GHG Protocol’s Corporate Value Chain Scope 3 Standard remains the main framework companies use to measure value-chain emissions, while the International Maritime Organization’s revised 2023 strategy calls for net-zero greenhouse-gas emissions from ships by or around 2050. The European Commission says maritime transport represents about 3% to 4% of the European Union’s total CO2 emissions.

The certificates cover reductions linked to regulatory compliance as well as cuts beyond regulatory requirements.

Some vessels are already running on biofuel made from waste and residue streams, and the company is testing alternative fuels. It has set a goal of cutting greenhouse-gas emissions per transported unit by at least 40% from 2008 levels by 2030 and operating a zero-emission fleet by 2050. Four ammonia-capable vessels are set to join the fleet in 2026.

Founded in 2017 by Gearbulk and Grieg Maritime Group, G2 Ocean operates more than 120 vessels, employs around 330 people in 15 locations and carried over 27 million tons of cargo in 2024. G2 Ocean’s 2024 revenue reached USD 1,382 million.