Shipping banks have $400bn at risk due to decarbonisation policies: Carbon War Room

A NEW report from environmental lobby group Carbon War Room and UMAS, an environmental consultancy based at University College London’s Energy Institute, highlights how banks are not aware of impact of investment risks under the develping global carbon landscape.

Report outlines need for sharp increase in capital investment to renew global fleet to meet goal of decarbonisation.
CWR/UMAS Research focused mainly on impact on drybulk fleet between 60,000 dwt and 99,999 dwt.
Report authors say shiping banks still have lack ability to assess ship efficiency or have lending programmes in place to keep assets competitive.
Jules Kortenhorst, CEO, Carbon War Room: “Financiers should be future-proofing investments and preparing to harness the new opportunities decarbonisation will create. Even with $400 bn in global shipping debt at stake, we have little evidence this is happening. We’ve taken the first step.”

Read the full statement from the Carbon War Room here

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Craig Eason

Craig Eason is the owner and editorial director of Fathom.World. He has a background in the shipping industry having started his career as a cadet on oil tankers and gas carriers before becoming a navigating officer on a range of vessel types. A change in career, with ensuing university studies, and he has now gained 20 years experience in written and broadcast journalism. He now is in demand as a knowledgeable and competent editor and event host and moderator, both for in-house events and ones for the public.