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.


- @DallasEWeaver If you read the press release, you will notice that the problem of marine pollution is related to PCBs! And not asbestos.yesterday
- What happened last night will go down in history as the single most blatant violation of chemicals and waste treati… https://t.co/2VTXL9nYQTyesterday
- Our 2022 #shipbreaking records are out. 292 #toxic ships ended up on South Asian shores for breaking, amounting t… https://t.co/jD8POIv47u4 days ago
- Intentionally sinking the toxic aircraft carrier São Paulo would equate to a state-sponsored environmental crime. https://t.co/efiH9KLVSI15 days ago
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