Tag: Paris Agreement

On the sidelines of COP 25, the International Chamber of Shipping highlighted the urgency of rapidly improving the industry's fuel efficiency, as demanded now by the sector and the Governments, also welcoming the 4th industrial revolution, aiming to the industry's rapid decarbonization.

The 25th UN Climate Change Conference (COP 25) opened on 2 December, in Madrid, aiming to take the next crucial steps in the UN climate change process. Following agreement on guidelines of Paris Agreement at COP 24 in Poland, a key objective is to complete several matters with respect to the full operationalization of the Paris Agreement.

In fact, The UNEP Emissions Gap Report for 2019 which was launched on Tuesday, November 26, warns that the world is heading for a 3.2 degrees Celsius global temperature rise over pre-industrial levels, leading to even wider-ranging and more destructive climate impacts, even if countries meet commitments in accordance with the 2015 Paris Agreement.

The United Nations Environment Programme’s (UNEP) issued a report assessing countries' plans and outlooks for fossil fuel production highlighting a significant production gap. The report was produced by leading research organizations, including the Stockholm Environment Institute (SEI), International Institute for Sustainable Development, Overseas Development Institute, CICERO Centre for International Climate and Environmental Research, Climate Analytics, and UNEP, and more than 50 researchers from numerous universities and research organizations contributed to the analysis and review.

The board of the European Investment Bank (EIB) agreed on November 14 a new energy lending policy and confirmed the EIB’s increased ambition in climate action and environmental sustainability. The new energy lending policy sets out five principles that will govern future EIB engagement in the energy sector.

Ten ports in the Nordic Region have agreed upon a declaration focusing on sustainable port management. Notably, the joint declaration shows a regional commitment to collaborate on environmental challenges related to UN Sustainable Development Goals (SDGs).

Christopher J. Wiernicki, ABS Chairman, President and CEO, highlighted the future of marine fuels in the shipping industry, stating that in order to achieve the 2050 goals the industry needs better and improved technology.

Jan De Nul Group announced that it will partner with the Flemish government to implement a minimum CO2 reduction obligation of 15% for 80% of the maintenance dredging contracts in Flanders by 2022 at the latest. The option for an 100% renewable fuel is in line with the company's effort towards a greener and more sustainable future in the shipping industry.

The Carbon Tracker Initiative launched a report according to which in order to "deflate" the carbon and protect investors, oil and gas companies have to shrink, meaning that they have to combine their production by more than a third by 2040 to limit emissions, in line with the international climate targets.

The Former UN Secretary General, Ban Ki-moon, highlighted that the shipping industry has to focus on achieving the targets set in the United Nations Sustainable Development Agenda and fight climate change, going against unilateralism.