Shinsei Bank, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Finance & Leasing, and MUFG Bank – all from Japan – have announced that they have signed up to the Poseidon Principles. Together with Sumitomo Mitsui Trust Bank, which joined in March 2020, five out of the 24 signatories of the Poseidon Principles are now from Japan.
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Posted on - 2021-03-21
The Monmouth University Institute for Global Understanding (IGU) and Urban Coast Institute (UCI) hosted Global Perspectives on Adapting Marine Shipping Governance and Maritime Sovereignty to Respond to Climate Change as part of the Global Ocean Governance Lecture Series to assemble international experts.
If GHG emissions from maritime transport could be accounted as a country, it would be one of the world’s top 10 emitters. Moreover, shipping emissions are forecast to increase 50-250% by 2050 without significant intervention to effectively decarbonize the sector.
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Posted on - 2021-03-21The recently submitted proposal to IMO from RMI and Solomon Islands for a GHG levy starting at US$100/tonne has now made the submission by a coalition of shipping industry groups to set up a US$5b R&D fund look woefully inadequate to meet the needs of the existing decarbonization agenda. This $5b R&D resourcing proposal has received the support of major shipping nations, including Japan, Liberia, Greece and Singapore, but it is increasingly clear this R&D fund will not appropriately resource the maritime transition at global scale.
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Posted on - 2021-03-17