COSCO SHIPPING issues first green shipping certificate over GSBN

COSCO SHIPPING Lines has collaborated with BOE Technology Group to

certificate.

The development follows COSCO SHIPPING Lines’ previous announcement that it

has partnered with Global Shipping Business Network (GSBN) to launch its Hi-ECO

blockchain-based shipping product, which incorporates traceable and verifiable

green certificates to accelerate decarbonisation in global trade.

Companies have begun to issue green certificates to enterprises like BOE

Technology Group that support the use of biofuels for product

transportation.

GSBN leverages its blockchain-enabled network to establish a linkage

between the Proof of Sustainability (PoS) Certificate, which documents the

purchase of biofuel by the carrier, and Green Certificates issued to

corporations.

This connection guarantees that each Green Certificate corresponds to an

actual purchase of biofuel, instilling confidence in the marketplace.

Furthermore, the technology reportedly enables easy verification through

attestation, allowing stakeholders to validate the veracity of the claims. This

enhances credibility and establishes a foundation of trust among all

participants involved in the shipping process.

In April 2024, GSBN released a new report that highlights the potential for

considerable carbon savings in the shipping industry via the use of digital

operations.

More recently, Mediterranean Shipping Company (MSC) announced its

collaboration with the Global Shipping Business Network (GSBN) to further

enhance safety in transporting lithium battery shipments.