English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Development banks offer billions for sustainable transport

LUXEMBOURG: December 03, 2015. Eight multilateral development banks have pledged US$175 billion by 2022 to mitigate transport emissions. The sector accounts for about 60 percent of global oil consumption, 27 percent of all energy use, and 23 percent of world energy-related CO2 emissions.

In a joint statement the banks say they will provide more money for climate change adaption; increase their focus on low-carbon transport solutions; and develop a systematic approach to mainstream climate resilience in transport policies, plans and investments.

Luis Alberto Moreno, president of the Inter-American Development Bank noted: "We believe that climate change is a defining challenge of our time. Actions to reduce greenhouse gas emissions and stabilize warming at 2 degrees Celsius will fall short if they do not include the transport sector."

The eight banks are the African Development Bank, Asian Development Bank, CAF-Development Bank of Latin America, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank, and the World Bank.

AC 787 runwayAccording to Enrique Garcia, president and CEO of CAF-Development Bank of Latin America, the region's engagement is critical given the high rate of motorization: "Latin America is suffering the most challenging impacts of climate effects; today not 2050 or 2100. Our countries, emerging economies, carry greater challenges and responsibility into building faster solutions [as we become] a larger player in emissions."

Laura Tuck, World Bank vice president for Sustainable Development added: "Transport must be a significant piece of the climate solution. We have the opportunity to transform transportation services so they are low-carbon and resilient to climate impacts. Now is the time to turn our commitments into action and we stand ready to work with countries as they develop low carbon and climate-resilient transport activities."

In a related move Boeing, Canada's University of British Columbia (UBC) and SkyNRG want to turn leftover branches, sawdust and other forest-industry waste into sustainable aviation biofuel.

The consortium, which also includes Air Canada, WestJet and Bombardier, will assess whether forest waste could also be harnessed to produce sustainable aviation biofuel using thermochemical processing.

A study by UBC has discovered that biofuel made from forest waste could meet 10 percent - about 46 million gallons - of British Columbia's annual jet fuel demand and save about one million tons of CO2 emissions per year.

SkyNRG, based in the Netherlands, has supplied biofuel to more than 20 carriers worldwide. Boeing has active biofuel projects in the U.S., Australia, Brazil, China, Europe, Middle East, South Africa and Southeast Asia.

Julie Felgar, Boeing Commercial Airplanes managing director of Environmental Strategy & Integration, commented: "Canada is in a terrific position to leverage its sustainable forests to make environmental progress for its aviation industry and other transport sectors."

According to the U.S. Department of Energy, using sustainably produced biofuel reduces lifecycle carbon dioxide emissions by 50 to 80 percent compared to conventional petroleum fuel.

News

Written on 24/03/2017, 19:32
malaysia-and-alibaba-to-build-digital-trade-platformKUALA LUMPUR: March 23, 2017. Alibaba is to partner with the state-run Malaysia Digital Economy Corporation (MDEC) to host what company executive chairman...
Written on 24/03/2017, 16:31
ai-becomes-truckload-matchmakerHAMBURG: March 24, 2017. As PwC releases a report suggesting 950,000 jobs will be lost in the UK transport sector from the use of artificial intelligence...
Written on 24/03/2017, 15:49
dp-world-eyes-panama-as-net-profit-jumpsDUBAI: March 22, 2017. DP World has reported a 29.9 percent rise in net profit for 2016 to US$1.26 billion, on a 4.9 percent increase in revenue to total...
Written on 22/03/2017, 22:12
new-ocean-carrier-alliances-to-shake-things-upGENEVA/BRUSSELS: March 22, 2017. The impending operation of three ocean box alliances on April 01 has prompted fears of capacity constraints and rising...
Written on 20/03/2017, 19:53
volga-dnepr-paid-former-u-s-national-security-advisorWASHINGTON, DC: March 20, 2017. As Congressional hearings begin on possible connections between the Trump presidential election bid and Russia, evidence...
Written on 17/03/2017, 20:55
lufthansa-group-reports-rise-in-net-profitFRANKFURT: March 16, 2017. The Lufthansa Group has reported a 4.6 rise in net profit to €1.77 billion in 2016 on a 1.2 percent drop in revenue to €31.66...
Written on 17/03/2017, 19:19
another-airline-level-for-iagBARCELONA: March 17, 2017. International Airlines Group (IAG) will begin flights from Barcelona to Los Angeles, Oakland, Punta Cana in the Dominican...
Written on 17/03/2017, 17:39
european-commission-re-imposes-cargo-finesBRUSSELS: March 17, 2017. The European Commission has renewed its decision to fine 11 airlines €776.46 million for operating an air cargo cartel between...
Written on 15/03/2017, 20:15
ups-continues-to-reduce-ghg-emissionsATLANTA, GA: March 15, 2017. UPS is to spend an additional US$90 million on expanding its U.S. natural gas fueling infrastructure and acquiring more...
Written on 14/03/2017, 21:13
air-cargo-stuck-in-the-16th-centuryABU DHABI: March 14, 2017. Speaking at the opening of the 11th World Cargo Symposium, IATA director general and CEO Alexandre de Juniac warned air cargo...
Written on 09/03/2017, 20:41
u-s-infrastructure-strong-risk-of-failureRESTON, VA: March 09, 2017. The American Society of Civil Engineers (ASCE) says restoring U.S. infrastructure to its competitive position will cost the...
Written on 08/03/2017, 19:52
zte-fined-over-a-us-1-billionDALLAS/ SHENZHEN: March 07, 2017. ZTE, a provider of telecommunications systems, mobile devices and enterprise technology solutions, has been fined...
Written on 07/03/2017, 22:51
no-additional-trade-tariffs-warns-mexicoDETROIT, MI: March 06, 2017. Addressing executives from the U.S. auto industry, Mexico Secretary of Commerce Ildefonso Guajardo Villarreal has reiterated...
Written on 07/03/2017, 20:38
maersk-and-ibm-to-launch-digital-trade-solutionARMONK, NY: March 06, 2017. Following ratification of the WTO's Trade Facilitation Agreement, IBM and Maersk are developing the use of blockchain...
Written on 06/03/2017, 20:36
dsv-signs-red-cross-agreementCOPENHAGEN: March 07, 2017. DSV and Denmark's Red Cross have signed a global logistics agreement that includes the donation of two warehouses. With a...
Written on 06/03/2017, 19:07
good-start-for-air-cargo-in-2017GENEVA: March 07, 2017. Noting an increase in the shipment of silicon materials, IATA reported a 9.0 percent year-on-year jump in airfreight...
Written on 03/03/2017, 21:33
iata-repeats-trump-warningWASHINGTON, DC: March 03, 2017. IATA has reiterated its warning to the Trump Administration about a future of restricted borders and protectionism. "Our...
Written on 02/03/2017, 22:52
america-first-for-tradeWASHINGTON, DC: March 02, 2017. With the confirmation of Trump's billionaire Florida neighbor Wilbur Ross as U.S. Commerce secretary, a recent Gallup poll...
Written on 27/02/2017, 22:24
us-400-billion-exposure-for-shipping-industryLONDON: February 27, 2017. New research suggests financial institutions supporting the global shipping industry have a US$400 billion exposure to future...
Written on 27/02/2017, 20:23
new-box-terminal-to-help-mexico-tradeLAZARO CARDENAS, MEXICO: February 27, 2017. The APM Terminals' facility at Lazaro Cardenas on Mexico's Pacific Coast has officially opened for business...

- powered by Quickchilli.com -