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Green groups urge UN to raise climate ambition on globalshipping. The globalshipping industry's decarbonization efforts once again face stormy seas. Faïg Abbasov, head of shipping at campaign group Transport & Environment, told BusinessGreen the proposal was "essentially an empty shell." "To To achieve 1.5
But carbon is also moving constantly through the globaleconomy, which historically has been powered by burning fossil fuels for energy. As the most prevalent of the greenhouse gases (GHGs), CO2 plays an outsize role in globalclimatechange — for example, it accounted for 81 percent of U.S. Carbon is everywhere.
By: Hakan Bulgurlu – Chief Executive Officer, Beko Melting glaciers and ice sheets have been making headlines globally often for all the wrong reasons. They are increasingly viewed as assets: faster Arctic shipping lanes, access to untapped mineral resources, and far-reaching geopolitical ambitions. Used your dishwasher?
The economic fallout caused by the COVID-19 pandemic is forcing governments around the world to come up with policies for stimulating the globaleconomy. Many are considering a tried-and-true method to boost economies in the short term and provide wide societal benefits in the long term: infrastructure investment.
However, the company’s plan to invest up to $46 billion over the next 15–20 years to expand into an emissions-free iron process being piloted in Northern Sweden is big news for Sweden, the global steel industry and future generations around the world. Change requires exploration of new concepts and solutions.
ESG issues continue to gain prominence, with climatechange getting the most attention today. Of course, moving to renewable energy wherever possible and reducing emissions across cars, shipping and aerospace are important initiatives. Without question, nature is an even bigger issue than climatechange.
It said in part: Today, every occupant of every C-suite is trying to figure out what they’re willing to throw overboard as the economic storm spawned by the pandemic is swamping their ships. When the globaleconomy essentially sank like a stone as people world over sheltered in place. When the U.S.
Trade is the globaleconomy's lifeblood, with maritime transport at its core. But the carbon footprint of port operations and shipping is substantial, with shipping accounting for nearly 3% of global greenhouse gas emissions , according to the Organisation for Economic Co-operation and Development (OECD).
Despite the reductions in air travel and the global economic slowdown caused by the pandemic, climatechange sadly has not slowed down this past year. We have only until 2030 to get things on track for a net-zero and nature-positive economy — this should sharpen our minds for action. ClimateChange.
Tourism is projected to make up nearly 12% of the globaleconomy by 2033, but it is also poised to consume a troubling 40% of the world’s remaining 1.5°C year-on-year between January and March, and tourist hotspots like Mykonos were overrun with cruise ship visitors this summer. to cruise ships docking at its ports.
But climatechange is changing that profile. We are witnessing changing ocean chemistry – alterations in the chemical composition of oceans, primarily driven by human activities such as the burning of fossil fuels and deforestation. Ocean warming driven by climatechange is a primary driver of ice melt.
This is a pivotal moment for our Group, and Arguiró’s leadership will allow us to accelerate our adoption of new technologies and advance ESG throughout Libra’s global platform,” said George M. Over the last 45 years, what started as a humble shipping business has transformed into a diversified company with subsidiaries around the world.
These efforts are part of companies’ efforts to measure and reduce their contributions to climatechange. This service offers customers a simple and transparent way to offset carbon emissions and take tangible climate action by supporting one of the United Nations’ climate action projects.
The SBTi is a world leading authority in advancing private sector progress to reduce GHG emissions, helping prevent the impacts of climatechange. DP World exists to make the world’s trade flow better, changing what’s possible for the customers and communities we serve globally.
With global trade highly dependent on shipping, achieving net zero may put wind in the sails of other industries’ climate ambitions. International shipping accounted for 2% of global energy-related CO2 emissions last year, according to the International Energy Agency (IEA). What progress has the IMO made?
Here is one of our favorites: Stop feeling overwhelmed by the global effort to reduce CO2 emissions, says Nigel Topping, the High Level Climate Action Champion for the UN’s climatechange conference COP26. Take the global maritime shipping sector. Currently, the number of zero carbon emitting ships is zero.
The sector currently generates 8% of global CO2 emissions: more than aviation and shipping combined. The challenge of increasing emissions is becoming more urgent as production of concrete and cement is increasing to meet global needs. .”
times higher than the UK's own greenhouse gas emissions (excluding aviation and shipping). Financial organisations thus have a major role to play in the decarbonisation of the globaleconomy, yet it is estimated that since the Paris Agreement in 2015, the 60 largest banks have instead invested $5.5 trillion USD in fossil fuels.
The Trade-Offs and Unequal Benefits of Trade Liberalization However, while the globaleconomy may have benefitted overall from trade liberalization, this growth has not been spread equally. What Does the Future Hold for Globalization? Specific localities and groups of workers have gained at the expense of others.
In addition, it now holds investments in “climate solutions/green revenues” worth 12 times that of its residual oil and gas exposure, amounting to almost £119 million across public and private markets. It excluded 467 companies from its portfolio, including 28 new exclusions based on climatechange criteria.
However, the most recent report from the Intergovernmental Panel on ClimateChange (IPCC) also left no doubt that feasible, effective, and low-cost options exist to deeply reduce emissions now. There is no more time to waste in the global effort to tackle climatechange. It’s time to get started.
Is corporate climate action moving fast enough? The Corporate Climate Stocktake has already taken evidence from surveys and interviews with more than 300 business leaders and industry experts across 8 sectors – shipping, aviation, road transport, power, hydrogen, steel cement and agriculture. The world invests 1.8
A court forced Shell to reduce emissions, an activist investor forced ExxonMobil to replace three board members better suited to fight climatechange, and Chevron shareholders voted against their board to achieve faster-cut carbon emissions. We had the “Day of reckoning” for big oil. ESG trends in 2022: Net-Zero ambition.
However, the climate finance gap still yawns wide. To address climatechange issues properly, the developing world needs more than US$2.4 Several new funding pledges were also made to boost existing levels of investment to ensure alignment with the 1.5°C C by 2050 commitment. trillion a year by 2030.
This interview with Joan Martinez Alier and Federico Demaria, from the research team of the Environmental Science and Technology Institute (ICTA) of the Autonomous University of Barcelona (UAB) explains how a global movement for environmental justice has risen. They also make the connection with the globaleconomy and the need for degrowth.
Ports are more than shipping containers, cranes, and bustling waterfronts; they are hubs that support global development. At DP World, one of the worlds largest logistics companies, ports and terminals support the connectivity between local production and global markets.
Preparing for the storm: The role of UK business and government in improving UK resilience to climatechange in the UK’ explores how leading UK businesses are already increasing community resilience through climate adaptation strategies and action. billion climate finance already promised by Biden each year, by 2024.
A half hour later, a large sturdy Ontario Provincial Police ship motored into the bay to ferry us back to the mainland. We are all in harm’s way when it comes to the floods , fires and sweltering hea t brought by extreme climatechange. While the die is cast on the direction of travel of our globaleconomy, we can speed it up.
Lost at sea – A blog post from BNP Paribas’ Markets 360 team explained why EU Emissions Trading System (ETS)-covered shipping emissions increased in 2023, and why they are likely to rise again this year. In tandem – Australia and New Zealand decided to join efforts on the climate transition by aligning their sustainable finance taxonomies.
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