Tag: green finance

Hong Kong is striving to establish itself as a leading hub for sustainable finance in the region, by making sustainability initiatives accessible to stakeholders. 

Mitsui O.S.K. Lines (MOL) has become the first Japanese company to join the board of the Book and Claim Community (BCC), an environmental initiative focused on decarbonizing international logistics.

A recent study by the UCL Energy Institute highlights a significant gap in how banks incorporate climate risks into their lending practices for the shipping industry.

According to Financial Times, leading banks are taking steps to limit financing for shipowners who neglect crew welfare, prompted by recent attacks on vessels in the Red Sea and scandals highlighting poor conditions for seafarers.

The European Commission has launched the Ship Financing Portal to boost the maritime sector's green transition by providing businesses and organisations with a repository of available financial tools needed to drive fleet renewal and retrofitting, enhance efficiency, and reduce environmental impact.

Gunvor Singapore Pte. Ltd., a wholly-owned subsidiary of Gunvor Group, has closed a US $1.2 billion sustainability-linked, syndicated revolving credit facility. 

ADNOC has signed a general agreement with the Japan Bank for International Cooperation for a $3 billion green financing facility.

Validation of voyage emissions data and contractual arrangements for allocation of EU ETS costs remain key challenges for Greek shipowners as they face an estimated total €335m bill this year, potentially rising to €1bn once the regulation is fully implemented, according to OceanScore.

Mitsui O.S.K. Lines announced that it has decided to raise funds through a syndicated transition linked loan using the performance-based interest subsidy system based on Japan's Act on Strengthening Industrial Competitiveness.

In a recent statement, the European Community Shipowners' Associations (ECSA) welcomed the European Council's call for a European Competitiveness Deal.