CMA CGM group has launched an early container return incentive in the US.
TEUs to Trees is designed to increase climate change mitigation in the United States while assisting in the overall effort to improve both the fluidity and velocity of the supply chain.
The group’s new program will provide customers 2.5 tons of carbon credit per container to offset emissions and support US socio-environmental projects.
The carbon credits CMA CGM will purchase on behalf of its customers will notably be used to expand US forestry, support urban resilience projects in vulnerable communities and drive the creation of additional offset projects in the US.
The program will be in effect from 1 October 2022, to 30 December 2022.
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Credits will be provided to CMA CGM customers that return both dry and refrigerated containers originating from nearly 20 Asian countries to CMA CGM-approved return locations in port cities throughout the United States (rail ramps not included).
Throughout the program, each applicable importer of record (consignee listed on the Bill of Lading) will receive: 2.5 tons of carbon credits per container returned during calendar days 1–4. To calculate the credit, CMA CGM will utilize EDI transaction data and will not require invoices or additional documentation from customers.
Customers will also receive a progress report every 30 days. At the end of the program, customers will be issued an official carbon offset certificate for total credits earned.
In September the group announced a new $1.5 billion Special Fund for Energies to accelerate its energy transition and achieve net-zero carbon by 2050.
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