International Business Weekly
  • Home
  • News
  • Politics
  • Business
  • National
  • Culture
  • Lifestyle
  • Sports
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • National
  • Culture
  • Lifestyle
  • Sports
No Result
View All Result
International Business Weekly
No Result
View All Result
Home Business

Shipping giants urge watchdog to avoid biofuels in clean-up push

February 17, 2025
in Business
0
Shipping giants urge watchdog to avoid biofuels in clean-up push
Share on FacebookShare on Twitter


The IMO is working toward a zero-carbon-emissions target for the industry by 2050

SOME shipping lines including Hapag-Lloyd and the maritime arm of Louis Dreyfus are calling on the International Maritime Organization (IMO) to avoid backing crop-based biofuels as the industry pushes to decarbonise.

“Unless legally binding safeguards are introduced, there is a risk that a large amount of fossil fuels will be replaced with unsustainable biofuels,” the companies said in a joint statement released by the European Federation for Transport and Environment, a non-governmental organisation known as T&E. When deforestation and land use are taken into account, palm and soy are two to three times worse for the climate than traditional fuels, according to T&E.

The IMO – the international watchdog that oversees shipping and is part of the United Nations’ framework – is working toward a zero-carbon-emissions target for the industry by 2050 as part of global efforts to combat climate change. Shipping carries more than four-fifths of world trade, but relies on traditional fuels at present to power most of the fleet.

Most palm oil is grown in vast estates in Southeast Asia, with Indonesia and Malaysia the largest producers. The commodity has long been blamed for destroying fragile habitats including carbon-rich peatlands, reducing biodiversity, and endangering rare animals, claims that producers and governments in the region have rejected.

The intervention by the shipping majors comes as delegates are scheduled to congregate in London this week for an IMO event to debate new regulatory measures to reduce the sector’s carbon footprint.

“We call on the IMO and member states to discourage the use of crop-based biofuels by ships,” the companies said. Crop-based biofuels should not benefit from economic incentives directed toward promoting zero and near-zero emission fuels, they said. BLOOMBERG

Share with us your feedback on BT’s products and services



Source link

Tags: AvoidBiofuelsCleanUpGiantsPushShippingurgeWatchdog
Brand Post

Brand Post

I am an editor for IBW, focusing on business and entrepreneurship. I love uncovering emerging trends and crafting stories that inspire and inform readers about innovative ventures and industry insights.

Related Posts

1,300 Toyota Prius units recalled in Singapore over rear doors that could open while car is moving
Business

1,300 Toyota Prius units recalled in Singapore over rear doors that could open while car is moving

February 27, 2026
Nikkei crosses 59,000 for first time on software rally; gains shrink on profit taking
Business

Nikkei crosses 59,000 for first time on software rally; gains shrink on profit taking

February 26, 2026
Deliveroo pulls out of Singapore after 10 years
Business

Deliveroo pulls out of Singapore after 10 years

February 25, 2026
Next Post
Court Finds Singapore Opposition Leader Guilty Of Lying To Parliament

Court Finds Singapore Opposition Leader Guilty Of Lying To Parliament

Argentina’s President Milei Faces Fraud Lawsuit Over $LIBRA Token ‘Rug Pull’

Argentina's President Milei Faces Fraud Lawsuit Over $LIBRA Token 'Rug Pull'

Revolutionizing Telecommunications with Big Data Engineering

Revolutionizing Telecommunications with Big Data Engineering

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ABOUT US

International Business Weekly is an American entertainment magazine. We cover business News & feature exclusive interviews with many notable figures

Copyright © 2026 - International Business Weekly

  • About
  • Advertise
  • Careers
  • Contact
No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel

Copyright © 2026 - International Business Weekly