Objective and Scope:

The client, a specialized offshore drilling firm, was looking to strategize their own decarbonization efforts. For this, it sought Benori’s support to understand decarbonization efforts in the offshore industry and their implications on the Ocean Economy. The study focused on major offshore segments, including shipping, oil and gas, service vessels, fishing, and offshore renewables, to understand decarbonization trends, challenges, regulations, initiatives, and implementation.

Approach:

We conducted secondary research to understand the offshore segments from resources, including the International Energy Agency and the International Maritime Organization, company websites, and news articles. We studied in detail the regulations, goals, and initiatives for decarbonization across different countries, data on carbon emissions, trends, drivers, and challenges in each segment. We created case studies for top players in each segment to understand their goals, initiatives, technologies, partnerships, and investments made toward decarbonization.

Impact:

The actionable insights helped the end client in:

• Gaining a deeper understanding of carbon emissions at different stages of the value chain
• Leveraging competitive intelligence to understand the top technologies, initiatives, goals, and investments for decarbonization to shape their sustainability strategy