By Andy Hoffman (Bloomberg) --The top oil executive at one of the world’s biggest commodity traders is calling for stricter regulations to force the shipping industry to cut carbon emissions and make the switch to greener fuels. The call by Trafigura Group is a rare offer to be subjected to more market regulations. Traders of physical commodities, be it hydrocarbons, metals … [Read more...]
Global Energy Giants Vow to Disclose GHG Emissions From Shipping
By Aaron Clark (Bloomberg) --Global energy and commodity titans including Royal Dutch Shell Plc, Trafigura Group Ltd. and Cargill Inc. plan to start disclosing greenhouse gas intensity and total emissions from their shipping operations. Under the initiative, companies will calculate emissions and assess how they align with decarbonization goals on an annual basis, the Global … [Read more...]
China Pledges to Be Carbon Neutral By 2060
By Valerie Volcovici WASHINGTON, Sept 22 (Reuters) - Chinese President Xi Jinping announced plans to boost his country's Paris climate accord target on Tuesday and called for a green revolution, just minutes after U.S. President Donald Trump blasted China for "rampant pollution." Addressing the U.N. General Assembly, Xi said China would achieve a peak in carbon dioxide … [Read more...]
EU Parliament Votes to Make Ships Pay for Their Pollution
By Kate Abnett BRUSSELS, Sept 15 (Reuters) - The European Parliament on Tuesday voted in favour of including greenhouse gas emissions from the maritime sector in the European Union's carbon market from 2022, throwing its weight behind EU plans to make ships pay for their pollution. Shipping is the only sector which does not face EU targets to cut emissions, but it is coming … [Read more...]
Shipping’s Share of Global Carbon Emissions Increases
By Jonathan Saul LONDON, Aug 4 (Reuters) - Carbon emissions from shipping rose in the six-year period to 2018 and accounted for 2.89% of the world’s CO2, a study released on Tuesday showed, amid growing pressure on the industry to bring levels down. About 90% of world trade is transported by sea and UN shipping agency - the IMO - aims to reduce the industry’s overall … [Read more...]