German Bank, Norwegan ECA Join Responsible Ship Recycling Initiative

(Maritime Executive, Fort Lauderdale, 25 April 2018) The German bank KfW IPEX-Bank has become the first German bank to join the Responsible Ship Recycling Standards initiative. With a lending volume of EUR 13.9 billion ($17 billion) in 2017, KfW IPEX-Bank is one of the top five ship financiers in the world, and, by joining the initiative, highlights that it is setting high standards for the environmental and social compatibility of its financing. At the end of May 2017, ABN Amro, ING and NIBC established the Responsible Ship Recycling Standards. The initiative now has eight members worldwide, with Nordea, DNB, SEB and Export Credit Norway having joined the three founding banks.