Verra publishes first carbon crediting methodology for alternative fuels in shipping
Verra has released VM0053 Alternative Low-Carbon Fuels for Shipping, version 1.0, the first dedicated voluntary carbon market methodology to provide a structured and independently verifiable accounting framework for quantifying greenhouse gas emissions reductions achieved through the use of low-carbon alternative fuels in maritime transport.
Published on 15 June 2026, the methodology was developed jointly by Japanese shipowner Iino Kaiun Kaisha Ltd, Swiss carbon market specialist Grütter Consulting, and Verra, following a public consultation period in late 2024. The release addresses a long-standing regulatory gap in one of the world’s most carbon-intensive and difficult-to-decarbonise sectors: maritime shipping carries more than 80% of global freight by volume but has historically lacked practical carbon crediting pathways to generate additional revenue for operators switching away from conventional bunker fuels.
VM0053 applies to project activities involving the use of a range of low-carbon drop-in alternative marine fuels, including green hydrogen produced through water electrolysis, green ammonia, and electro-fuels such as e-methanol, e-LNG, e-LPG, and e-diesel. The methodology is applicable to both new and existing vessels of any gross tonnage operating in territorial or international waters, making it broadly accessible across the global fleet.
By enabling the generation of verified carbon credits from qualifying fuel-switching activities, the framework creates a new revenue stream that Verra says could help offset the significant cost premium currently associated with low-carbon marine fuels compared with conventional fossil fuel alternatives. This cost gap has been widely identified as one of the principal commercial barriers to accelerating maritime decarbonisation and meeting the targets set by the International Maritime Organization (IMO) for the shipping sector.
According to Verra’s announcement, the methodology also provides a credible mechanism for sourcing, verifying, and scaling reductions in value chain emissions, and is designed to align with net-zero objectives across jurisdictions. The framework captures both direct vessel emissions and relevant downstream fossil fuel use, supporting what Verra describes as a comprehensive evaluation of system-level outcomes.
The release of VM0053 comes at a moment of considerable activity in zero-emission shipping, with a growing number of vessel orders for ammonia-capable and hydrogen-ready ships. On 22 June 2026, mining and green energy company Fortescue and Belgian maritime group CMB.TECH announced a charter agreement for up to 12 ammonia-capable Newcastlemax bulk carriers of 210,000 deadweight tonnes each, with up to three dual-fuel ammonia vessels expected to enter service by the end of 2026. The combined fleet, if fuelled by green ammonia, could reduce carbon dioxide emissions by approximately 250,000 tonnes annually compared with conventional marine fuels.
The VCS Programme is the world’s most widely used voluntary carbon crediting programme. VM0053 is designated under Sectoral Scope 7, covering transport, and can be used in conjunction with Verra’s existing CORSIA and Article 6 labelling frameworks for eligible credits sold into international aviation and sovereign compliance markets.
