Press Release – Platform supports banks’ introduction of responsible ship recycling standards
And another worker dies in May at Chittagong yard with an appalling accident record
Today, during the first day of NOR-Shipping in Oslo, Dutch banks ABN AMRO, ING Bank and NIBC, together with the Scandinavian DNB, announced that they are all introducing Responsible Ship Recycling Standards (RSRS) for their ship financing. The banks took the opportunity of making this announcement during the biannual industry gathering in order to raise awareness with the intention of including more banks into the initiative. The Norwegian fund, KLP, who in 2016 commissioned a report by the International Law and Policy Institute on shipbreaking, had also already taken a stance to reject beaching practices.
A collective move to include ship recycling conditions on loans by leading banks and financial institutions with large shipping portfolios is a positive step to imposing responsible practices on ship owners. When there is pressure for change coming from shipping financers, who understand that they have a direct tangible impact on the shipping industry, ship owners, rather than finding crafty loopholes in the law, will feel the bite if they do not choose to recycle responsibly off the beach.
Related news
Press Release – Norwegian ship owner sentenced to prison
Last Friday, the Sunnhordland District Court in Norway sentenced ship owner Georg Eide to six months unconditional imprisonment.
... Read MorePress Release – Turning point: new tech and developments for a new future of ship recycling presented at the Lab
Stakeholders that are pioneering a new future for sustainable ship recycling gathered in Rotterdam at the NGO Shipbreaking Platform’s Ship Recycling Lab.
... Read MorePress Release – NGOs win FPSO North Sea Producer case
On 14 November the High Court Division of the Supreme Court of Bangladesh declared the import, beaching and breaking of the infamous FPSO North Sea Producer… Read More
Bangladesh: shipping firms profit from labour abuse
A new report released by Human Rights Watch and the NGO Shipbreaking Platform uncovers the human and environmental costs of shipbreaking in Bangladesh.
... Read MorePlatform News – REMINDER: Ship Recycling Lab on 20-21 September in Rotterdam
The NGO Shipbreaking Platform invites you to attend the conference Ship Recycling Lab on 20-21 September in Rotterdam (Netherlands).
... Read MorePlatform News – Investigative journalists catch Maersk red-handed in Alang
Investigative journalists from Danwatch today release their comprehensive report on the reality inside Shree Ram shipbreaking yard in Alang, India, where the Maersk Georgia and Maersk… Read More