Shipping and the new law that could stem the global economy
Shipping is the lifeblood of the global economy but it's also one of the world's worst polluters. Of the entire global transport sector, shipping accounts for 90 per cent of its sulphur dioxide emissions, a gas with grave environmental impacts: deforestation, acidic rivers, and poisoned wildlife. In an effort to tackle the problem the UN's International Maritime Organisation plans to introduce new caps to further restrict the amount of sulphur dioxide generated by commercial shipping. The regulatory impact is likely to be immense and not just for the sector - manufacturers, retailers, consumers, even fuel prices themselves.
In this podcast, Editor in Chief Richard Edgar talks to two of Fidelity's senior analysts about the forthcoming law: shipping credit analyst Jonathan Neve, and North America energy equity analyst Paul Gooden.