What is the right MRV Compliance Strategy for you?
In this video and article, we discuss the different options companies have for complying with the European MRV Shipping regulation. This will help you, especially if you are at the beginning of the compliance process, to find the MRV compliance strategy that is best for you.
Basically, there are two options:
- Option 1: Hire or train a dedicated compliance manager and deal with compliance in-house. Of course, as required by the regulation, you would still need to contract a third-party MRV Shipping verifier for the assessment of the monitoring plans and verification of the emission reports.
- Option 2: Outsource the entire compliance process to an MRV compliance specialist who does not only create your monitoring plans and emission reports but also gets them verified by an independent MRV Shipping verifier.
If you lean towards option 1 please bear in mind that verifiers can only give you very limited guidance because, to avoid any conflict of interest and remain impartial, they are prohibited from providing consultancy services or technical assistance to shipping companies.
As the first step, we recommend you familiarize yourself with the MRV Shipping system to understand your obligations and to get an idea of the time it will take to achieve compliance and the risks involved if you were to opt for option 1 that is handling compliance in-house.
Besides the weekly video series, our website offers a lot of other useful information so if not already done check out these free resources to bring yourself up to speed with MRV Shipping.
Before you take a decision, you might want to look at time, risks and costs, for each of the two options, but also ask the question Do we have somebody within the company with experience in European emissions legislation? Furthermore, we recommend you shop around and request quotes from more than one verification and consulting company because the scope of the service and prices can differ substantially.
To sum up, we think bigger companies with fleets of 50 plus vessels will most likely prefer keeping everything in-house. However, having talked with a number of smaller shipping companies, it makes indeed good business sense to outsource the entire compliance process to a MRV compliance specialist.