Newbuild ships can be considered to meet the transition criteria where the vessel is designed at the outset to allow for future modernisation/adaptation to run on 100% renewables or otherwise meet the Green criteria by 2030, and where the owner has a transition plan aligned with a 1.5ºC pathway.
To obtain such data, emissions can be estimated using historical operational data from the ship owner to calculate the energy requirements of the vessel. This baseline can then be adjusted to reflect the use of an alternative fuel by converting the energy requirements into equivalent fuel consumption for the new fuel type. Finally, the recalculated emissions can be determined using specific emission factors associated with the alternative fuel.
Do refer to Guidance for Leveraging the Singapore-Asia Taxonomy in Green and Transition Financing – Singapore Sustainable Finance Association – #1 Demonstrating alignment with the TSC in the absence of required data and #8 Applying the amber category to new assets.
[Updated in Oct 2025]
