22 SPECIAL FOCUS the grade Making
With around 90 percent of transported goods going by ship at some point, making shipping as carbon effi cient as possible makes sense from an environmental and – crucially – economic standpoint. To this end, Carbon War Room has developed a pioneering rating system
for the energy effi ciency of the majority of the world’s vessels that it hopes will drive down emissions while driving profi ts. In this introduction to our Shipping Special Report, Tom Idle presents the issues
A
s a cog in the wheel of global trade, shipping is crucial. Around 90% of all transported goods get from A to B by
water and the operation of merchant ships generates more than half a trillion US dollars a year in freight rates. But in the climate change battle, the industry remains the hardest sector for regulators to crack. The UN Framework Convention on Climate Change is keen to let the International Maritime Organization (IMO) regulate emissions generated by bulk carriers, oil tankers, cargo ships, cruise ships, and passenger ferries. But having made little progress since 1997, EU climate commissioner Connie Hedegaard says she is “losing patience” with the IMO, and if it doesn’t deliver eff ective legislation soon, EU regulators will step in. Either way, emissions from ships will be controlled by regulation in one form or another in the not-too-distant future – and not just in Europe. Despite being the greenest mode of
transportation – with the lowest ratio of CO2 emissions per ton-kilometre transported
– shipping remains a ‘dirty’ industry. A
CREATING CLIMATE WEALTH
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68