TOOL Spawn in Clean & Circular Transition • 2 yr. ago
Financial & Regulatory Initiatives for Green Recycling
Financial Concepts & Regulatory Frontrunners:
The European Union Ship Recycling Regulation (SRR)
Currently being evaluated on how it has delivered on objectives, its impact and identify shortcomings with its implementation and enforcement. Will include an overview of the SRR implementation, with enforcement and santions, in member states, and assess impact on practices in non-EU countries. Will look at consistency with EU´s wider policy objectives, such as Green Deal, circular economy action plan and zero polution action plan. Will also look at the evaluation criteria, key focus is to improve implementation and effectiveness.
Main point of attention for review/evaluation are; how the regulation facilitate ratification of HKC and reduce disparities between operators. Re-flagging prior to dismantling, recycling capacit and enforcement are other areas. Evaluation will also look into new tools to improve the sceme, such as scope extention, financial incentives, adjustment to technical progress towards potential revision 2025.
Financial Initiatives in Responsible Ship Recycling
ABN AMRO founded the Responsible Ship Recycling Standards (RSRS) together with ING and NIBC in 2017 to promote responsible ship recycling and minimise the dangers associated with hazardous materials onboard ships. The RSRS has grown to 12 members since, together representing major European ship financiers.
Alliances & Initiatives focusing on Green Recycling:
Off The Beach - The Toxic Tide: 2021 Shipbreaking Records
Ship Recycling Transparency Initiative (SRTI) - industry initiative promoting transparency to drive progress on responsible ship recycling
International Ship Recycling Association (ISRA) - international platform for recyclers promoting sustainable ship recycling
European Maritime Safety Agency (EMSA) - European Union agency providing technical assistance
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