The pioneering SEA Index, has been endorsed by one of the maritime world’s most well-known and respected names, Lloyd’s Register. The news was announced by the Superyacht Eco Association (SEA) at the 10th La Belle Classe Superyacht Environmental Symposium, held as part of Monaco Ocean Week in the principality (25 March 2021).
“All SEA Index ratings will be endorsed by Lloyd’s Register, ensuring data is verified by a specialist firm with unprecedented experience and credibility,” said Michel Buffat, Head of Aviation & Yacht Finance, Credit Suisse.
The not-for-profit Superyacht Eco Association was established in September 2020 by the Yacht Club de Monaco, in collaboration with the Prince Albert II de Monaco Foundation, and co-founders Credit Suisse, in recognition of a growing demand from yacht owners seeking to know their vessel’s environmental impact – the first step in the transition to a climate-friendlier future for superyachts.
Lloyd’s Register, which dates from 1760, specialises in the validation, certification and accreditation of maritime businesses and infrastructure with a strong focus on the environment. The Lloyd’s Register endorsement is an important step for the SEA Index ratings tool.
During the symposium, held at the Yacht Club de Monaco, Michel Buffat confirmed that the SEA Index is being further developed, evolving to include other environmental criteria, besides CO2. The next step in this development will now be the considerations of how yachts are being used, giving more weight to emissions from auxiliary power systems, also referred to as ‘hotel load’.
Currently the SEA Index relies on a formula based on the energy efficiency rating used by the International Maritime Organisation (IMO). Factors taken into account are CO2 emissions at full load, the yacht’s speed and number of certified passengers. The result is expressed by a simple star rating, from one to five.
In the absence of a global CO2 emissions standard for superyachts, the aim is to create a fact-based, transparent and easy to understand environmental audit that is easily accessible, and which can be a reliable indicator of CO2 reductions.
“The SEA Index was created to raise awareness among shipyards, owners and captains to create a collaborative commitment towards protecting the environment.” Bernard d’Alessandri, Yacht Club de Monaco General Secretary and President of Cluster Yachting Monaco & Member of the Board, Superyacht Eco Association
As well as Lloyd’s Register’s backing, support for the Index has come from across the industry including engineers from shipyards such as Nobiskrug, one of the partners in developing the eco-auditing tool.
“With the Superyacht Eco Association, it is evident we have struck a chord with people from across the industry. In the first six months, memberships have increased, and we have seen tremendous demand for the SEA Index custom tool, particularly given the growing awareness of superyacht environmental issues.” Michel Buffat, Head of Aviation & Yacht Finance, Credit Suisse
The one-day conference on 25 March was hosted by the Yacht Club de Monaco and comprised presentations on many aspects of marine environmental sustainability, including new energy sources such as hydrogen development and electric propulsion systems.
“The Yacht Club de Monaco is proud to be able to play a part in achieving the aims of this vital endeavour and reinforce the Principality of Monaco’s position as a centre of excellence and innovation for the luxury yacht sector in such a forward-looking way.
“There is much still to be done, but what the Superyacht Eco Association has already shown is that by working together with others we can proceed at speed on a path towards a healthier environment and respect of the oceans for the good of everyone.”
Bernard d’Alessandri, Yacht Club de Monaco General Secretary and President of Cluster Yachting Monaco & Member of the Board, Superyacht Eco Association