Ship finance lenders make headway on emission targets

The 34 banking signatories to the Poseidon Principles, representing a loan portfolio to global shipping of about $240 billion, have reported a joint improvement in emissions reduction scores in 2023 based on initial IMO targets. In its fourth annual report, the framework for measuring and reporting the alignment of lenders’ shipping portfolios with climate goals

Tesco reveals netzero targets

Tesco has revealed a set of netzero targets, approved by the Science Based Targets Initiative (SBTi), in a bid to achieve carbon neutrality within its operations by 2035 and across its value chain by 2050. Tesco was one of the first businesses to set approved 1.5C science-based targets. The targets encompass interim aims to cut

Bring forward NetZero targets, says UN Secretary-General

Antonio Guterres, the UN Secretary General, said leaders of the G20’s rich nations must aim for net zero “as close as possible” to 2040 while emerging nations should set 2050 targets. Countries in the G20 have been urged to significantly bring forward their net zero targets by the head of the United Nations. Speaking at

Targets for green hydrogen consumption set in India

India has set green hydrogen consumption targets for some industries, so as to generate demand for cleaner fuel in its quest to reach netzero by 2070. One of the world’s biggest emitters of greenhouse gases, India approved a plan of incentives worth more than $2 billion last week to develop a green hydrogen production capacity