An on-board carbon-tracking device being trialled by Mitsubishi Corp could be installed on another five ships by mid-2023 as the industry prepares for new regulations aimed at cutting maritime emissions, according to its developers.

The project by climate tech start-up Everimpact allows owners to measure real-time CO2 data using sensors installed on the exhaust stack of ships.

Its backers say the accurate recording of emissions will be of increasing importance as shipping seeks to tackle its role in global warming. Shipping is currently responsible for 3% of global CO2 emissions.

The Carbon Intensity Indicator (CII) scheme will be introduced next year which is designed to measure vessels’ environmental performance. Shipping is also being brought into the EU’s carbon market, which will assess how much the biggest polluters must pay.

The technology is currently being trialled on a Mitsubishi Corp vessel. EverImpact said it was hopeful that another five ships could be fitted with the technology by the middle of next year and up to 10 by the end of 2023.

Takafumi Oka, general manager of Mitsubishi Corp’s ship department, said: “We believe that this project will help transform the maritime industry into one that is more transparent and reliable for carbon emission monitoring and reporting.

“Making carbon emission visibility possible aligns with new regulatory and compliance measures, such as CII and the carbon pricing market.”