Banks With $100 Billion in Shipping Loans Get Strict on Climate

(Bloomberg) --A group of financiers with $100 billion of loans to shipowners are about to get stricter on the kinds of vessels they’ll finance as part of a drive to improve the maritime industry’s environmental performance. Eleven major financiers including Citigroup Inc. and Societe Generale SA are for the first time adopting a set of principles requiring them to maintain … [Read more...]

Bulk Carrier Completes Fully Carbon Offset Voyage from South Africa to Europe

Global mining company Anglo American has completed what is thought to be the first fully carbon offset voyage of a bulk carrier at sea, according to Rightship, which provided the carbon accounting tool used to calculate the carbon footprint of the journey. Carbon offsetting is a way of reducing one's carbon footprint through the purchase carbon offset credits helping fund … [Read more...]

Melting Ice Caps Are a National Security Crisis: James Stavridis

By James Stavridis (Bloomberg Opinion) -- I spent much of my life in the U.S. Navy, including nearly 11 years on the deep ocean day-to-day, out of sight of land. This really drove home the fact that oceans cover 70 percent of the earth’s surface — all the world’s land would fit comfortably within the Pacific. Oceans produce much of the oxygen we breathe and a great deal of the … [Read more...]

U.K. Poised to Back Net Zero Greenhouse Gas Target for 2050

By Alex Morales and Jessica Shankleman (Bloomberg) -- The U.K. government is preparing to announce plans to slash fossil fuel emissions to zero by 2050, an effort to fight climate change that would change the way Britons heat their homes and the cars they drive, officials familiar with the situation said. An announcement embracing the so-called net zero emissions … [Read more...]

Pompeo: Russia and China Actions in Arctic Need Watching

By Simon Johnson ROVANIEMI, Finland, May 6 (Reuters) - U.S. Secretary of State Mike Pompeo said on Monday that Russia is behaving aggressively in the Arctic and China's actions there had to be watched closely as well, amid growing divisions in the polar region over global warming and access to minerals. Speaking as he arrived in northern Finland for a meeting of nations with … [Read more...]