NGO: Why shipping investors need to get involved in the climate
With USD billions lent to shipping, financial institutions play a central role in the work to lower the industry's emissions of CO2. "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.
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 funding of vessels. But change is underway, not least with the increasing pressure on the shipping industry to deliver on the matter of CO2, on which there will be an important meeting in the UN's International Maritime Organization (IMO) in April.
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