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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 Cecilia Keating.
In this article, we examine these questions and highlight innovative strategies that are shaping the future of global logistics. Economic Powerhouses Driving Regional Development Ports play a crucial role in both local and globaleconomies, acting as essential arteries that drive trade, boost industrial growth, and create jobs.
Posorja’s draft – which is over 15 meters – enables it to handle ultra-large container ships (ULCS), including those with capacities up to 22,000 TEUs. This allows shipping lines to deploy larger capacity vessels; for example, Maersk’s AC2 service includes vessels of 13,000 and 15,000 TEUs capacity.
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.
And not just cars: The electrification of trucks , tractors , buses , trains , ships , even aircraft is gearing up faster than many had predicted. Yet it could take decades to convert all of these things to electric powertrains. Surge protection. Of course, electrification is hardly plug-and-play.
At B Lab, they envision a globaleconomy that uses business as a force for good. This economy is comprised of a new type of corporation – the B Corporation - which is purpose-driven and creates benefit for all stakeholders, not just shareholders. There's no reason for business to be any different.
We see customers demanding action on carbon emissions, investment firms structuring new green products and governments developing regulations to support the transition to a sustainable future. Of course, moving to renewable energy wherever possible and reducing emissions across cars, shipping and aerospace are important initiatives.
The globaleconomy relies on air cargo,” notes Nehal Gautam in The STAT Trade Times, but “the relentless growth comes at a steep price.” The G&A Institute Climate Team has developed tools and systems to help companies with climate related challenges, opportunities and emissions calculations relevant to cargo and logistics.
Arguiró Elefteriu will lead the development and adoption of an ESG framework implemented across Libra Group and its network of global subsidiaries. Over the last 45 years, what started as a humble shipping business has transformed into a diversified company with subsidiaries around the world. SOURCE: Libra Group.
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).
The blue economy from pole to pole The World Bank has defined the blue economy as the “sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and ocean ecosystem health”. The Northern Sea Route is the shortest shipping route between the western part of Eurasia and the Asia-Pacific region.
Sustainable shipping fuels could reach cost parity with fossil fuels as early as 2035 with the help of decisive emissions policy such as carbon taxes and emissions limits, according to a report launched by technology firm Wärtsilä on 21 March. iii Transporting 80% of world trade, shipping is the engine room of the globaleconomy.
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?
The VFPA’s annual Blue Circle Awards recognize shipping and cruise companies, and terminal and marine operators who make outstanding commitments to port sustainability, and show leadership around reducing emissions and underwater noise, and energy conservation.
This hub is poised to position the Dominican Republic prominently on the global stage as a key player in air cargo for a wide variety of products from across the region,” said Morten Johansen, chief operating officer of DP World Americas.
To calculate credits, Lenovo estimates CO 2 emissions over the average lifecycle of devices, from manufacturing to shipping, use and disposal. Lenovo is committed to the vision of providing smarter technology for all people and helping to decarbonize the globaleconomy. until October 2022 **Source: [link]
The company’s investments include major renewables platforms Clearway, Vena, Atlas and Eolian, in addition to the Gatwick, Edinburgh, and Sydney airports, data center developers CyrusOne, waste and water circular solutions provider Suez, and rail and port operators.
Entered a strategic partnership with Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping (the Center) in 2022, whereby DP World committed to long-term strategic collaboration and contribution to the development of zero carbon technologies and solutions for the maritime industry.
This investment helped develop the port of Posorja from a greenfield site into what the Container Port Performance Index (CPPI) ranks as the third most-efficient port in Central America, South America, and the Caribbean. billion investment over a 50-year concession period.
“This report underscores our significant contributions to the economy and dedication to making a positive difference in the communities where we operate.” The report reveals that FedEx contributed more than $80 billion in direct impact to the globaleconomy in FY 2023, despite recent economic pressures.
The UN’s COP26 has developed toolkits for every sector of the globaleconomy and published a roadmap of shared pathways. Take the global maritime shipping sector. It has similar emissions to the whole of Germany and accounts for 80 percent of global trade. The EU has extended carbon pricing to shipping.
Then, he gets specific about how capitalism makes the world better – brings inventions to scale for mass consumption: Engineers and scientists are working around the clock on how to decarbonize cement, steel and plastics; shipping, trucking and aviation; agriculture, energy and construction.
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. .”
Global recycling markets are easily prone to disruption, and developed countries have underinvested in recycling infrastructure for years. China’s action could reshape an overlooked but critical segment of the globaleconomy: the cross-border flows of scrap that underpin recyclng markets worldwide.
The Port of Vancouvers EcoAction Program offers shipping lines up to a 75% discount on harbor dues for utilizing shore power, she explains. Scope 3 Emissions: The Next Frontier Perhaps the most significant development on the horizon is the focus on Scope 3 emissionsindirect emissions from suppliers and partners. While the U.S.
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.
When we discuss scale, we cannot afford to ignore the millions of small and medium sized businesses – or SMEs – that drive globaleconomies and create the fabric of local communities. It’s essential that these solutions are scaled and rapidly. To halve emissions by 2030, we need small and medium sized businesses on board.
Adam Matthews, the CEPB’s Chief Responsible Investment Officer, said: “As an investor in most sectors of the globaleconomy, we take a universal view of our ownership of assets which means driving systemic change in the real economy that can impact whole sectors. “We
Institutional investors should be aware of the immediate and future opportunities arising from the development of the green economy, when assessing equity allocations in their portfolios. Over the last five years, the FTSE Environmental Opportunities All Share (EOAS) Index outperformed the FTSE Global All Cap by 5.9%.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements Amazon, Google, Microsoft, Nucor Pioneer New Clean Energy Investment, Risk Sharing Models with Duke Energy Brookfield In Talks to Acquire Clean Energy Developer Neoen for $6.6
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.
With a new taskforce working towards developingglobal climate taxes, possibilities and challenges ahead are seemingly endless. To address climate change issues properly, the developing world needs more than US$2.4 C by 2050 commitment. However, the climate finance gap still yawns wide. trillion a year by 2030.
Given these trade-offs between reducing global inequality and protecting domestic interests, is globalization here to stay, or will low- and middle-income countries (LMICs) need to find alternative sources of growth in an increasingly protectionist world? Developments like the ongoing U.S.-China
Read live updates from on the ground in Glasgow, including the latest business announcements, policy breakthroughs and other key developments. . The Glasgow Climate Pact represents a vital step in our shared efforts to keep global warming to 1.5 °C Anything less is incompatible with limiting global temperature rise to 1.5ºC.”
For example, the Mission Possible Partnership gets leading heavy-industry companies, banks and governments to create investment-grade “net-zero” sector strategies in seven key areas of the globaleconomy — aviation, shipping, trucks, chemicals, steel aluminum and cement. Coming together for impact.
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
The world fought back against the pandemic, and in just one year, developed four vaccines and immunized half of the world’s population. Despite poor coverage in developing countries (6%) and new variants bringing back lockdowns, we hope to go back soon to a new normality. 2021 Sustainability Summary.
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.
billion in federal grants across 30 states to 25 projects aiming to boost clean-energy development and reduce the nation’s greenhouse gas emissions. An ongoing crisis in the Red Sea, in particular, has led to significantly higher emissions from cargo ships – the largest segment of shipping emissions, according to Markets 360. “We
Ports are more than shipping containers, cranes, and bustling waterfronts; they are hubs that support globaldevelopment. At DP World, one of the worlds largest logistics companies, ports and terminals support the connectivity between local production and global markets. million tons of grains and fertilizers annually.
To reflect the scale of our operations, we have calculated the impact that FedEx makes on the globaleconomy as a whole, as well as on the economies of the United States and our major operating regions. Today, FedEx connects the vast majority of the worlds gross domestic product.
Along with announcing these sanctions, OFAC issued a General License authorizing wind-down transactions involving State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank for a 30-day period until March 24, 2022. Expansion of Sovereign Debt Restrictions. 14024”), which supersedes the prior Directive 1.
Carlos Merino, CEO of DP World in Peru and Ecuador, said: “It is an honor to receive the Brand Peru license, which recognizes our ongoing commitment to Peru’s development. DP World exists to make the world’s trade flow better, changing what’s possible for the customers and communities we serve globally. million TEUs.
Originally published in FedEx's 2024 Global Economic Impact Report Global economic impact The extensive FedEx network moves more than $2 trillion worth of goods every year, providing vital shipping and logistics services that help customers connect with local, regional, and international markets. For example, FedEx spent $18.6
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