German shipping bank KfW declares war on hazardous scrapping

One of Germany's biggest shipping banks is now joining a European initiative against hazardous shipbreaking. The bank is thus increasing pressure on German shipowners, which are known for using the worst scrapping yards in South Asia.

Photo: Shipbreaking Platform

A joint initiative from several of the world's largest shipping banks aimed at improving shipbreaking has now gained German support.

State-owned bank KfW IPEX-Bank announced Thursday that it has decided to join the initiative Responsible Ship Recycling Standards.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Poseidon Principles set to raise ambitions in coming weeks

The banks in Poseidon Principles are working on the basis of halving CO2 emissions in shipping by 2050. At the same time, some of the same banks are working towards a target of CO2 neutrality by 2050 as part of the Net-Zero Banking Alliance. In a short period of time, Poseidon will reassess its ambition.

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Related articles

Trial banner

Latest news

See all jobs