The European Union presented the European Green Deal’s Investment Plan – the Sustainable Europe Investment Plan, which will attract public investment and unlock private funds through EU financial instruments, most importantly InvestEU, which can lead to at least €1 trillion of investments.
Climate change is decreasing the productivity of marine fisheries on a global scale, with some regions experiencing large gains in productivity and others experiencing large losses; Thus, the reports states that climate change will serious impact ocean and coral reef tourism.
The UK Hydrographic Office has committed to help islands across the Pacific and Caribbean support trade and develop sustainable marine economies. Through a conference, the government aims to help representatives to achieve these outcomes by developing legislation and regulations that support the safe use of the ocean.
French shipping major, CMA CGM, announced that in light of the upcoming 2020 sulphur cap it will be compliant, providing a mix of three solutions, using compliant fuels with 0.50% or 0.10% sulphur, while it will also apply a new surcharge.
UNCTAD launched its 2019 Trade and Development report, focusing on the global financial crisis in relation with the battle against climate change, arguing that the struggle to create jobs is real, the environmental breakdown being a serious threat, adding that these challenges have resulted to new targets and goals to ensure a sustainable and safe future.
Shipping banks will for the first time incorporate climate considerations into lending decisions to incentivize maritime shipping’s decarbonization. Namely, the Poseidon Principles will be a framework for assessing and disclosing the climate alignment of financial institutions’ shipping portfolios.
The Chinese economy is still slowing down as it rebalances, with headwinds including trade frictions and a weak global economy undermining exports and creating new uncertainties. Policy should highlight long-term strategies to advance the economy towards improving economic efficiency and ensuring that future growth is sustainable, greener and more inclusive, a new report from the OECD says.
The Commission published on January 30 a Reflection Paper on a Sustainable Europe by 2030. The Paper forms part of the EU’s firm commitment to deliver on the United Nations Sustainable Development Goals, including on the Paris Agreement on Climate Change. Also, under the possibility of a no-deal Brexit scenario European Commission adopted a final set of contingency proposals.
The Republic of Seychelles has launched the world’s first sovereign blue bond, according The World Bank. The bond, which raised US$15 million from international investors, is a pioneering financial instrument designed to support sustainable marine and fisheries projects, demonstrating the potential for countries to harness capital markets for financing the sustainable use of marine resources.
ING informed that from its €500 billion lending portfolio, it will begin steering towards meeting the Paris Agreement’s well-below two-degree goal. ING will do this by creating the Terra approach, using science-based scenarios to steer its business strategy. Terra measures the needed shift in technology.
