GSBN and GCMD partner for blockchain pilot projects to decarbonize shipping industry.

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Global Shipping Business Network (GSBN) and Global Centre for Maritime Decarbonisation (GCMD) have signed a knowledge partnership agreement to investigate the effectiveness of using blockchain in large-scale decarbonisation of the shipping sector. The two entities will work together to identify and design studies and pilot projects that can accelerate decarbonisation of the shipping industry by integrating data from parties along the supply chain, including shipping companies and terminals, to support decision-making.

The partnership comes amidst significant investment and resources in decarbonisation initiatives in the shipping sector. Bertrand Chen, the CEO of GSBN, emphasises that the key to achieving carbon-neutrality is to have access to trustworthy and in-depth data that supports the decision-making process. He adds that “with the significant investment and resources behind these initiatives, there is an increasing need for trusted, detailed data to support decision-making and demonstrate sustainable shipping aspirations”. The partnership between GCMD and GSBN will provide such data and thus help accelerate and strengthen the shift towards a low-carbon future in shipping.

According to Professor Lynn Loo, the CEO at GCMD, the partnership between GCMD and GSBN is significant as it blends GCMD’s expertise in decarbonisation and GSBN’s specialisation in data infrastructure. The integration of these two different but highly complementary specialisations will enhance transparency and increase stakeholder confidence in the collective journey towards zero-carbon shipping. GCMD has three other knowledge partners – the Maersk Mc-Kinney Moller Center for Decarbonisation, the Global Maritime Forum and KPLER – to support its work towards reducing emissions in the shipping sector.

Overall, the signing of the partnership agreement between GSBN and GCMD could unleash significant benefits to the industry in the form of reliable data infrastructure, enhanced transparency and stakeholder confidence, and ultimately the acceleration of the shipping sector’s decarbonisation journey.


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