We are not accepting donations from people or companies in Florida due to unfair reporting requirements and fees not imposed by any other state.

Call to Action for a Truly Sustainable Renewable Future
August 8, 2013 – 5:07 pm | No Comment

-Include high octane/high ethanol Regular Grade fuel in EPA Tier 3 regulations.
-Use a dedicated, self-reducing non-renewable carbon user fee to fund renewable energy R&D.
-Start an Apollo-type program to bring New Ideas to sustainable biofuel and …

Read the full story »
Business News/Analysis

Federal Legislation

Political news and views from Capitol Hill.

More Coming Events

Conferences and Events List in Addition to Coming Events Carousel (above)

Original Writing, Opinions Advanced Biofuels USA

Sustainability

Home » Business News/Analysis, International, Marine/Boat Biofuel, Opinions, Policy

Banks Explore Challenges Decarbonisation Poses to Ship Finance

Submitted by on November 8, 2017 – 2:18 pmNo Comment

(American Journal of Transportation)  “Many global financial institutions have committed to bringing their portfolios in line with the transition to a low-carbon economy. To fully achieve this, they must address the climate risks to hundreds of billions of dollars in shipping investments that will emerge as soon as 2023.” – Maurice Meehan, Director of Global Shipping Operation, Carbon War Room

LONDON – At a Global Maritime Forum roundtable in London yesterday, the Carbon Pricing Leadership Coalition and global NGO Carbon War Room, worked with shipping leads from major global financial institutions to explore the challenges of decarbonisation for ship financing.

With the launch of the report Preparing shipping banks for climate change: How can internal carbon pricing help ship-financing banks in risk management?, the two organisations called for shipping’s financial institutions to begin analysing and managing the risks created by the shipping industry’s imminent decarbonisation. In order to do so, they suggest that the industry unites around a global standard for maritime-specific climate risk assessments.

The report outlines the drivers of decarbonisation of shipping markets. The drivers include the International Maritime Organization’s (IMO) plans to adopt regulations for reducing emissions from shipping and the possibility of shipping being brought into the EU’s Emissions Trading Scheme (ETS), both from 2023, and science-based targets initiatives that could also apply pressure from outside the maritime sector to reduce emissions. The report also outlines the role that the Paris Agreement could play in depressing demand for the transport of key commodities like petroleum products and coal.

Moreover, the report suggests that the shipping industry begin to consider methods, such as internal carbon pricing or other shipping industry-appropriate tools, to analyse the potential climate-exposed finance that is part of the existing $355.25 billion global loan book as well as new investments. The report concludes that to overcome key barriers to achieving this, it is in the interest of financiers to move together in creating a global standard for maritime-specific climate risk assessments.

This report is the latest step in Carbon War Room’s work with key partners to ensure that the industry’s financiers support a successful decarbonisation of the shipping industry. The report builds on the February 2017 research paper by UMAS and Carbon War Room “Navigating Decarbonisation: An approach to evaluate shipping’s risks and opportunities associated with climate change mitigation policy,” which established that climate policies will impact shipping markets and require actions by financiers and shipowners.  READ MORE  Download study

Related Post

Tags: , , , , ,

Comments are closed.