Green Fund News

The Biden administration on Friday slapped sanctions on a Russian ship and two companies involved in the Nord Stream 2 gas pipeline, but opponents of the nearly-completed project said the measures would not stop it.The sanctions were imposed on ship Ostap Sheremeta, shipowner JSC Nobility and construction company Konstanta, the State Department said in a report to congressional committees. A copy of the report was seen by Reuters.U.S. President Joe Biden separately issued an executive…

The United States and Germany on Wednesday unveiled an agreement on the Nord Stream 2 gas pipeline under which Berlin pledged to respond to any attempt by Russia to use energy as a weapon against Ukraine and other Central and Eastern European countries.The pact aims to mitigate what critics see as the strategic dangers of the $11 billion pipeline, now 98% complete, being built under the Baltic Sea to carry gas from Russia’s Arctic region to Germany.U.S. officials have opposed the pipeline…

Executives at some of the world's top shipping groups are advocating a levy on carbon emissions on shipping in an effort to shape tightening rules on greenhouse gas emissions while providing a means to fund development of cleaner fuel sources."To meet international shipping's decarbonization challenge, the maritime industry needs a carbon levy, it is coming, and we should shape it," said Andreas Sohmen-Pao, chairman of BW Group at the Global Maritime Forum in Singapore this week.The…

The RT fully supports the adoption at IMO of mandatory Energy Efficiency Design Index (EEDI) for new ships and the Ship Energy Efficiency Management Plan (SEEMP) for all ships. It is convinced that the SEEMP will allow shipowners to better gauge their energy consumption and thereby enhance existing operational efficiency, since fuel is the single highest operational cost factor and this fact alone has already induced ship-owners to become more energy efficient. In the event that Market Based Measures (MBMs) are eventually introduced to shipping by IMO, these should apply globally and should completely address the nine principles adopted by IMO, it says.

The International Chamber of Shipping (ICS) – which represents all sectors and trades of the global shipping industry and more than 80% of the world merchant fleet – has produced a briefing document for government climate change  negotiators, in advance of the next United Nations Climate Change Conference (COP 17), which commences in Durban at the end of November. ICS Secretary General, Peter Hinchliffe explained: “The international shipping industry is firmly committed to reducing its CO2 emissions by twenty per cent by 2020, with significant further reductions thereafter.

The International Chamber of Shipping (ICS) – which represents all sectors and trades of the global shipping industry and more than 80% of the world merchant fleet – has produced a briefing document for government climate change negotiators, in advance of the next United Nations Climate Change Conference (COP 17), which commences in Durban at the end of November. ICS Secretary General, Peter Hinchliffe explained: “The international shipping industry is firmly committed to reducing its CO2 emissions by twenty per cent by 2020, with significant further reductions thereafter.

ICS Says CO2 Compensation Fund Could Help Sea Ports Adapt To Climate Change. The International Chamber of Shipping (ICS), whose member national shipowners' associations represent more than 80% of the world merchant fleet, has participated at a special UNCTAD (United Nations Committee on Trade and Development) meeting in Geneva (29/30 September) to explore how the world's sea ports should prepare for adaptation to the threat of dangerous climate change. Speaking at the UNCTAD meeting…