We are pleased to announce that our business unit has reached an important milestone by being officially approved as a verifier for the Market-Based Measures (MBM) Specification within the Smart Freight Centre (SFC) conformity assessment scheme. This announcement follows our recent participation in Smart Freight Week, organized by the Smart Freight Centre (SFC).
The Smart Freight Centre, a leading global non-profit organization, is committed to accelerating the transition to sustainable freight. Their conformity assessment scheme provides a standardized framework for measuring and reporting greenhouse gas emissions within the freight industry. The MBM specification focuses on the verification of market-based measures used to claim the environmental attributes of interventions, such as fuel switching or electrification of trade routes.
While the industry is looking for a more permanent solution to decarbonize freight transport, biofuels and e-fuels have enormous potential as transitional fuels. The biggest challenge remains the investment in and deployment of biofuels on a larger scale. The MBM specification within the Smart Freight Center's conformity assessment scheme is based on the Market-Based Measures Accounting Framework. This framework describes the methodology for applying a market-based accounting approach to the quantification and reporting of GHG emissions from transportation. Specifically, the accounting framework uses a "book and claim" chain of custody approach, which allows for the following:
- Freight providers or solution providers: Assign environmental attributes to organizations that contribute to the cost of lower-impact solutions, regardless of where the fuel is actually burned.
- Purchasers: To support and report the environmental attributes of lower-impact transportation services regardless of the physical transportation of their specific goods through those services.
This approach allows for broader participation and support of lower-impact freight transportation and provides a more flexible and accessible path for organizations to demonstrate their commitment to emissions reduction. The transfer of environmental attributes is facilitated by reliable tracking systems that ensure accuracy and transparency. While companies can manage this process internally, many opt for independent third-party registries that create secure, verifiable records of each claim, preventing double counting and maintaining system integrity. By democratizing access to sustainable fuel benefits, this approach makes decarbonization more feasible for a wider range of industry players.
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Normec Verifavia is pleased to use its endorsement to support organizations in their book and claims programs. As accredited verifiers, we do more than ensure compliance - we provide in-depth analysis to validate each claim with accuracy and integrity. With experience in both internal ledgers and independent registries, we understand the complexity of these systems and have the technical expertise to verify their processes. Having encountered common pitfalls such as double counting, we help you effectively navigate through challenges and give you the confidence and tools to communicate your sustainability performance with certainty.