latest from CPLC
Shipping produces 2 per cent of global emissions but has no industry-wide commitment to reducing this. How can the sector stay afloat in an increasingly decarbonised world? Carbon War Room’s Maurice Meehan discusses.
On November 7, 2017, the Carbon Pricing Leadership Coalition (CPLC) launched an Executive Briefing on internal carbon pricing for ship-financing banks at Citibank’s offices in London. This knowledge product was developed with kind support from Carbon War Room. It is meant to generate discussion at the highest levels of ship finance around how to start preparing for upcoming GHG emissions regulations. Hosted by Michael Parker, Head of Shipping at Citibank and Member of the Board of Directors of the Global Maritime Forum, the launch event gathered about 20-30 directors from leading ship-financing financial institutions.
Adopting IMO’s initial strategy is critical, but it must be an ambitious one, writes Marshall Islands president Hilda C Heine from the Bonn climate talks
Limiting the increase in global average temperature to within 2° Celsius of preindustrial levels requires dramatic cuts in carbon dioxide emissions. One of the best ways to do that is to shift the social and economic costs of greenhouse gases from the public to the polluter.
Carbon pricing – in the form of a carbon tax or an emissions trading system – has become a tool increasingly used by governments to address climate change. There’s also growing momentum in the private sector. The latest C2ES report, “The Business of Pricing Carbon,” finds that companies across sectors and geographies are increasingly adopting internal carbon pricing as one tool to prepare for the business-related physical and transition risks of climate change and take advantage of the opportunities in a low-carbon future. As an indicator of this trend rising on the corporate agenda, as of 2017, almost 1,400 companies disclosed to the CDP that they are currently using an internal carbon price or plan to do so in the following two years.
on the occasion of the One Planet Summit, government leaders of Canada, Chile, Colombia, Costa Rica, México, the Governors of California and Washington, and the Premiers of Alberta, British Columbia, Nova Scotia, Ontario and Quebec launched the Carbon Pricing in the Americas cooperative framework.
London, November 8, 2017—At a Global Maritime Forum roundtable in London yesterday, the Carbon Pricing Leadership Coalition and global NGO Carbon War Room, worked with shipping leads from major global financial institutions to explore the challenges of decarbonization for ship financing.
With the launch of the report Preparing shipping banks for climate change: How can internal carbon pricing help ship-financing banks in risk management?, the two organisations called for shipping’s financial institutions to begin analysing and managing the risks created by the shipping industry’s imminent decarbonisation.
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