NGO: Why shipping investors must get involved in climate issues
With billions of US dollars lent to the shipping sector, financial institutions play a central role in the work to lower the industry's CO2 emissions. "We're in the middle of a paradigm shift," says James Mitchell, Maritime Finance Lead at the NGO Carbon War Room, in an interview with ShippingWatch.
BY KATRINE GRØNVALD RAUN
Just a few years ago, the climate was probably one of the last things to be discussed when banks and carriers met to discuss loan terms and the funding of vessels. But change is underway, not least with the increasing pressure on the shipping industry to deliver on the issue of CO2 -- which will be the subject of a key meeting in the UN's International Maritime Organization (IMO) in April.
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