Archives for June 18, 2021

LONDON TALKS: BE READY FOR THE ESG TRAIN

ESG is a much bigger topic than just GHG emissions explains Tony Foster, CEO and Founder of Marine Capital Ltd, in the most recent of the London Talks series

The ESG Train is going to hit the maritime industry, it is and will remain a matter of self-preservation for the entire industry, according to Mr Foster.

Dealings with institutional investors including pension funds have demonstrated that the subject is moving higher and higher up the agenda to the extent that questionnaires on ESG are used to weed out the lowest scoring investments from alternative asset portfolios.

In his talk, the third in the informative series of London Talks videos available on the London International Shipping Week 2021 website, he said: “Unfortunately, shipping doesn’t tell its story very well, but when it comes to ESG, it’s really important that we, as an industry, explain clearly what we are doing, what the challenges are and how we are addressing them. I can’t stress this highly enough.”

He added that Marine Capital also puts particular emphasis on governance, one aspect of the industry which gets much less coverage but will remain critically important if the industry is going to attract the institutional capital which the market says it needs.

“These may be major challenges, but they are also an opportunity. We must be proactive on all aspects of ESG, which will have to include greater transparency and better governance standards, but we will get there,” he concluded.

To hear more about Tony Foster’s life in shipping, view his London Talks presentation – “Boom bust and everything in between: A life in shipping” – here: https://londoninternationalshippingweek.com/london-talks/

London International Shipping Week 2021 runs from September 13 to 17, 2021. For more information see the dedicated event website: www.londoninternationalshippingweek.com or you can follow us on Twitter @LISWOfficial or #LISW21

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ABS Releases Guidance on the Potential of Hydrogen As a Marine Fuel

a1ca966a38bc3a68_800x800ar-fca69c54The Latest in ABS’ Industry-Leading Alternative Fuels Guidance Series

(HOUSTON) Hydrogen is the latest alternative fuel to have its potential for the maritime industry explored by ABS in its industry-leading series of detailed sustainability whitepapers.

Sustainability Whitepaper: Hydrogen as Marine Fuel explores the gas’ potential to reduce emissions from shipping, while evaluating its safety, regulatory and design implications. The report also details industry projects utilizing hydrogen and ABS support for its development. Finally, the whitepaper considers the projected role for hydrogen both in the maritime industry and beyond.

“While hydrogen appears to be an ideal fuel for power generation, it carries various challenges of advanced storage requirements and fire hazard mitigation. To become a competitive alternative marine fuel, hydrogen may also face the challenges of availability and high costs to scale production and transportation infrastructure. Hydrogen is characterized by having a very low tank-to-wake emissions impact, which considers the emissions produced by an energy source. However, the life cycle of hydrogen production must be considered to evaluate the overall emissions of GHG from hydrogen,” said Georgios Plevrakis, ABS Director, Global Sustainability. “As more experience is gained through hydrogen pilot projects, the marine industry is expected to adopt hydrogen as an environmentally friendly fuel of choice.”

The guidance builds on ABS research developed in the ABS Low Carbon Shipping Outlook series, to help drive decarbonization pathways for the industry. To learn more, download the Sustainability Whitepaper: Hydrogen as Marine Fuel here.

The three-part ABS Low Carbon Shipping Outlook series, along with the previous ABS Sustainability Whitepapers: LNG as Marine FuelMethanol as Marine FuelAmmonia as Marine Fuel and Biofuels as Marine Fuel, can be downloaded from the ABS Marine Sustainability Resource Center here.

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