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EU Commission to propose shipping inclusion in ETS in March

On 12 December, the European Commission will present the European Green Deal as part of its plan to be the first climate neutral continent by 2050, announced the European Commission’s recently-elected President, Ursula von der Leyen, on the sidelines of COP 25 underway in Madrid. 

NYK granted Japan’s first sustainability-linked loan

Japanese shipping company NYK announced it has secured a syndicated sustainability-linked loan, Japan’s first advanced loan that allows for conditions such as the loan’s interest rate to be adjusted according to the borrower’s CSR performance.

EU issues green finance taxonomy, tackling ‘green-washing’

The European Union along with its officials are making their efforts to advance the green investments in Europe, by bringing to the table the idea of easing the EU banking rules. The idea highlights the environmental ambitions of the next European Commission and the EU’s executive, which is going to be voted for a five-year term the following Wednesday, 4 December.

SBM Offshore secures $1.14 billion loan for Liza Unity FPSO

Dutch group SBM Offshore announced it has completed the project financing of FPSO Liza Unity by a consortium of nine international banks, for a total of US$1.14 billion. The company expects to draw the loan in full, phased over the construction period of the FPSO.

Top 10 countries most ready for energy transition

Sweden ranks at the top of the ten countries reported to be the most ready for energy transition, according to World Economic Forum’s Energy Transition Index (ETI), comparing the energy sectors of 115 countries and analyzing their readiness for energy transition.

NYK secures over USD 80 million syndicated loan for scrubbers

Japanese NYK announced it has secured a 9 billion yen syndicated loan agreement with MUFG Bank Ltd., with the aim to install scrubbers. This forms part of NYK’s medium-term management plan, which includes the group’s intent to integrate environmental, social, and governance (ESG) initiatives into management.

CPPIB issues first Euro Green Bond to invest in renewables

Canada Pension Plan Investment Board (CPPIB) issued its first Euro-denominated Green Bond. The sale of €1 billion in 10-year fixed-rate notes will enable CPPIB to invest further in eligible assets such as renewables. Among the Green Bond-eligible investments recently made by CPPIB is a joint venture in renewable power and offshore wind assets.

MSC secures US$439 million financing to install scrubbers

Geneva-based shipping giant Mediterranean Shipping Company SA (MSC) has secured financing of US$439 million to equip its fleet with 86 scrubbers in view of IMO’s 2020 sulphur cap. Law firm Watson Farley & Williams (WFW) advised French BNP Paribas as coordinating bank and agent.

Global foreign investment flows reach the lowest levels in a decade

According to UNCTAD Global Investment Trends Monitor, the foreign direct investment (FDI) fell by nearly a fifth in 2018 to an estimated $1.2 trillion from $1.47 trillion in 2017. The drop brings FDI flows back to the low point reached after the global financial crisis, with the decline concentrated in developed countries where inflows decreased by as much as 40% to an estimated $451 billion.

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