PwC Greece Establishes Maritime Sustainability Center

PwC Greece has  introduced a new team of specialists focusing on sustainable business in the shipping sector, the Maritime Sustainability Center, led by the well-known shipping sustainability expert, Ms. Helena Athoussaki.

Working within PwC’s Shipping Advisory Group, the Maritime Sustainability Center will offer services for shipping companies to enhance the performance monitoring of their fleet, and compliance with the new EU legal requirements on monitoring, reporting and verification (MRV) of CO2 emissions from maritime activities.

The new EU Regulation entered into force on 1 July 2015, aiming to establish an EU-wide system for monitoring, reporting and verifying (MRV) emissions from large ships using EU ports, is the first step towards regulating CO2 emissions reduction from the maritime sector.

“Looking ahead and expecting the understanding and preparation phases that will lead up to the first reporting cycle of the MRV system for the maritime sector (January 2018), our firm has set up a dedicated team of specialists to support shipping companies before and after the MRV implementation.  It is noted that PwC is currently supporting the European Commission in detailing the design of the MRV system for the maritime sector, and the Maritime Sustainability Center, will provide additional support to the project team. The final requirements of the EU MRV systems are expected to be issued in summer 2016.

Helena Athoussaki, Head of the Maritime Sustainability Center at PwC Greece, explains: “Drawing from our long-standing knowledge of the carbon emissions issues in the Shipping Market, our experience in the  development of the EU MRV system for the maritime sector and also from the strong experience of PwC professionals across our global network in similar MRV systems, our team can support shipping companies holistically in improving the energy performance management of their fleet whilst complying with the new policy framework.”

Accuracy, completeness and comparability of activity data, complete and transparent documentation, efficient and consistent procedures, clear roles and responsibilities, as well as qualified personnel, are key parameters which need to be assessed before a shipping company enters the implementation phase.

Combining PwC’s experience in auditing and advisory with technical and operational knowledge on maritime issues, we examine the current monitoring and reporting systems shipping companies have in place and assess whether they can be used to ensure conformity with the MRV requirements and principles.