Shipping Industry Advocates for Prudence in Climate Targets
🚢 Shipping Industry Advocates for Prudence in Climate Targets.
The International Chamber of Shipping (ICS), which represents 80% of the world's commercial fleet, has advised its members to consider the implications of a new plan to reduce maritime emissions before committing to it. Under the plan, shipping companies will input all their vessels’ emissions into a new software tool and will have to improve efficiency or use cleaner fuel to reduce their emissions by 60% by 2036. The ICS has put forward its own decarbonization proposals, including a $5 billion research and development fund, but critics have argued that the targets are insufficiently ambitious.
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Ricaurte Vásquez Morales, the Administrator of the Panama Canal, recently discussed with CNBC's Lori Ann LaRocco the impact of drought on the Panama Canal and its implications for shippers.