Arctic Council Received First Tranche from Russia

By Joseph R. Fonseca
Thursday, July 17, 2014
Total amount of 10 million euros to the Project Support Fund of the Arctic Council, established by the Nordic Environment Finance Corporation

 

Russian Ministry of Finance transferred the first tranche of 5 million euros for implementation of environmental projects of the Arctic Council.

This amount is the first payment of Russia’s financial contribution with the total amount of 10 million euros to the Project Support Fund of the Arctic Council, established by the Nordic Environment Finance Corporation (NEFCO). The funds are to be transferred in two tranches of 5 million euros each in 2014 and 2015, respectively, reports RIA Novosti.

The Fund will use them to eliminate hotbeds of pollution in the Arctic, as well as to reduce atmospheric emissions of harmful substances, including those directly affecting climate change.

‘The arrival of the first contribution from the Russian Federation to the Fund is a significant practical step testifying to Russia’s commitment to tap the potential of international cooperation within the framework of the Arctic Council. This will be Russia’s true contribution to implementation of the Agreement on Cooperation on Marine Oil Pollution Preparedness and Response in the northern seas, signed by the Arctic countries in Kiruna in 2013,’ said the Deputy Head of the Ministry of natural resources Rinat Gizatulin.

The project support tool has been created by the Arctic Council, which brings together eight bordering countries, for funding and joint management of environmental projects in the Arctic area, primarily on the territory of Russia. The Fund’s appointed operator is the Nordic Environment Finance Corporation (Finland).

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Adani Group Revamps Businesses

Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (“APSEZ”) and Adani Power Limited (“APL”) today announced

PHA Budgets $ 275 mi for Capital Improvements

In 2015, the Port of Houston Authority has budgeted $275 million for various capital improvement projects. About $184 million is being allocated to its container

Shippers Must Monitor Greek Government Changes

Moore Stephens says shipping must monitor developments in wake of Greek government change   International accountant and shipping adviser Moore Stephens says

Environmental

Congestion is Port of Long Beach’s Toughest Issue

Slangerup’s State of the Port address outlines goals for Energy Island, smarter supply chain   In his first-ever State of the Port address, Port of Long Beach

BOEM Issues Supplemental Environmental Impact Statement

The U.S. Department of the Interior, Bureau of Ocean Energy Management (BOEM), announces the availability of the Draft Supplemental Environmental Impact Statement

European Shipping Week Announces Speakers

Adam Goldstein, President and COO of Royal Caribbean Cruises, Pierfrancesco Vago, Chairman of CLIA Europe and Executive Chairman of MSC Cruises, and Paolo Tonon,

News

Zamakona, Finnish GS-Hydro Ink Deal

The presentation ceremony of the Finnish multinational leader in water services GS-Hydro, new partner of Zamakona Yards in Canarias was held yesterday (January 29th at 7 p.

Naval EXPO Coming to Washington

For the first time ever, the general public will be admitted free to the Naval Future Force Science and Technology EXPO general exhibit hall Feb. 4-5 where they

Adani Group Revamps Businesses

Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (“APSEZ”) and Adani Power Limited (“APL”) today announced

Arctic Operations

Shell: UK Should Reduce North Sea Oil Tax

The British government should review a supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic, Shell Chief

Shell Eyes Arctic Drilling this Summer

Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high.

‘Landmark Year’ for RS in 2014

For Russian Maritime Register of Shipping (RS), 2014 marked the 101st year of its activities. The classification society said 2014 also marked a landmark year,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1822 sec (5 req/sec)