New plastic offset scheme introduced by blockchain startup
Blockchain Development Company (BCDC), a blockchain startup based in the UK, introduced on 14 November its new initiative that calculates of an annual plastic footprint, and allows people to offset it.
The Plastic-Offset Scheme offer businesses and families to purchase BCDC tokens that will be recorded on an immutable blockchain platform, giving stakeholders access to the information ensuring the tokens are spent on worthy projects.
“We are currently in talks with numerous plastic pollution abatement projects around the world. To partner with and invest in them, ensuring true global plastic-offset,” stated Gordon Cowan, Chief Executive of BCDC.
“It is imperative we tackle the plastic problem head on and encourage all projects involved in fighting plastic pollution to contact us and join the BCDC Global Plastic-Offset Scheme,” he added.
“We believe our initiative is a fantastic way of combating this, and every purchase of a BCDC token will allow us to grow the scheme and fight the scourge of plastic pollution.”
The total amount of plastic produced since the 1950s reaching 8.3bn tonnes and the majority of that ending in landfill.
The Ellen MacArthur Foundation has warned that by 2050, the oceans could be filled with more plastic than fish.
BCDC has mirrored a carbon offset scheme with its plastic initiative, except with the use of blockchain will alleviate any concerns regarding the verification of token credit spending.
Trafigura and Yara International explore clean ammonia usage
Reducing shipping emissions is a vital component of the fight against global climate change, yet Greenhouse Gas emissions from the global maritime sector are increasing - and at odds with the IMO's strategy to cut absolute emissions by at least 50% by 2050.
How more than 70,000 ships can decrease their reliance on carbon-based sources is one of transport's most pressing decarbonisation challenges.
Yara and Trafigura intend to collaborate on initiatives that will establish themselves in the clean ammonia value chain. Under the MoU announced today, Trafigura and Yara intend to work together in the following areas:
- The supply of clean ammonia by Yara to Trafigura Group companies
- Exploration of joint R&D initiatives for clean ammonia application as a marine fuel
- Development of new clean ammonia assets including marine fuel infrastructure and market opportunities
Magnus Krogh Ankarstrand, President of Yara Clean Ammonia, said the agreement is a good example of cross-industry collaboration to develop and promote zero-emission fuel in the form of clean ammonia for the shipping industry. "Building clean ammonia value chains is critical to facilitate the transition to zero emission fuels by enabling the hydrogen economy – not least within trade and distribution where both Yara and Trafigura have leading capabilities. Demand and supply of clean ammonia need to be developed in tandem," he said.
There is a growing consensus that hydrogen-based fuels will ultimately be the shipping fuels of the future, but clear and comprehensive regulation is essential, according to Jose Maria Larocca, Executive Director and Co-Head of Oil Trading for Trafigura.
Ammonia has a number of properties that require "further investigation," according to Wartsila. "It ignites and burns poorly compared to other fuels and is toxic and corrosive, making safe handling and storage important. Burning ammonia could also lead to higher NOx emissions unless controlled either by aftertreatment or by optimising the combustion process," it notes.
Trafigura has co-sponsored the R&D of MAN Energy Solutions’ ammonia-fuelled engine for maritime vessels, has performed in-depth studies of transport fuels with reduced greenhouse gas emissions, and has published a white paper on the need for a global carbon levy for shipping fuels to be introduced by International Maritime Organization.
Oslo-based Yara produces roughly 8.5 million tonnes of ammonia annually and employs a fleet of 11 ammonia carriers, including 5 fully owned ships, and owns 18 marine ammonia terminals with 580 kt of storage capacity – enabling it to produce and deliver ammonia across the globe.
It recently established a new clean ammonia unit to capture growth opportunities in emission-free fuel for shipping and power, carbon-free fertilizer and ammonia for industrial applications.