Exploring the challenges for capital providers, shipowners, charterers/cargo owners.
Part 2 of our round table series, on EU Taxonomy.
The EU Taxonomy Regulation provides uniform criteria for shipping companies and capital providers, and investors to identify whether an economic activity is “environmentally sustainable”. This classification system will assist the capital providers in determining what is, or is not, green.
MARE FORUM and RINA are hosting the 2nd online round table discussion, consisting of leading principals of the maritime industry chair-holders. They will exchange their thoughts and ideas on the challenges provided by this regulation to the European and global maritime industry.
Industry players don’t tend to know too much about this legislation. How do you plan ahead and how do you ensure compliance?
What does taxonomy mean for your business? The regulation is very granular: its application differs significantly depending on the type of company.
Ship finance will be affected. How will lenders deal with the fact that the legislation is quite restrictive, e.g. it bans fossil fuels. Will it reduce credit opportunities?
How do owners / charterers change their business to ensure they don’t lose out on such financings?
Is there an overload of compliance? Poseidon Principles, Taxonomy, Green principles, etc.
How will other jurisdictions (primarily the US and Asia) follow suit on this?
Is the taxonomy regulation in harmony with the IMO rules?
Managing Director, Global Head Transportation & Logistics, ABN AMRO Bank
Senior Syndication Manager, Hamburg Commercial Bank AG
Managing Director , VSL Club SpA Investment & Advisory
Director, Finance & Fiscal Affairs, European Community Shipowners' Associations (ECSA)