Banning Heavy Fuel Oils from EU ports

Black carbon (BC), the sooty black material emitted from burning heavy fuel oil (HFO), presents a special threat in the Arctic where it dramatically speeds up the melting of ice. Whereas clear, white snow and ice repeal heat from the sun’s waves, darkened, soot-covered surfaces absorb more heat and melt at an accelerated pace. This is especially concerning as Arctic Sea ice is already disappearing much faster than climate models predicted (three-times faster than the global average). The good news is that there is plenty of opportunity for impact. Black carbon remains in the atmosphere for two weeks or less, so as soon as it is banned there would be near-immediate results. Furthermore, there are numerous cleaner fuel alternatives available to ship operators. We are proud to support the Clean Arctic Alliance through Seas at Risk in their project to ban black carbon from entering EU ports, which could reduce global Black Carbon emissions by up to 90% nearly overnight.

Clean Artic Alliance
About Clean Arctic Alliance

Clean Arctic Alliance is a coalition of 23 non-profit organisations working together to persuade governments to take action to protect the Arctic, its wildlife and its people. Since its foundation in 2016, the group has published several consequential reports and lobbied international governments to improve environmental standards and conserve the Arctic. We have partnered with them this year to help ban black carbon from EU ports.

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MICHAEL ROSEN

Michael Rosen has experience at a partner and co-founder level in private equity and venture capital funds. He has evaluated, executed and managed investments across many sectors and stages, raised capital, managed teams and worked closely with portfolio companies. He was the COO of a listed investment vehicle, and most recently the CIO of Ocean Born Impact where he oversaw investment strategies focused on companies that positively impact planetary health, emphasizing areas such as the energy transition, clean transportation, sustainable production, and enabling technologies.

 

Earlier in his career, Michael served as a Partner at Pamplona Capital Management, where he was responsible for identifying and managing investment opportunities across various sectors. His career began as an Analyst in the Financial Sponsors Group at Merrill Lynch in London.

 

Michael continues to make and support impactful investments that combine environmental sustainability with technological innovation, leveraging his extensive experience in finance and investment management. His investments include impact-focused businesses such as Olio (food waste), Skin Analytics (Al for skin cancer detection), Bramble Energy (hydrogen fuel cells), and CHOOOSE (carbon-offsetting and mitigation).

 

Michael graduated from Oxford University in 2001 with a first class degree in PPE (Philosophy, Politics and Economics), and in 2024 he published his first novel, The Consciousness Company, about a start-up company.

 

Michael is currently a venture partner for the impact fund, Mustard Seed Maze, and is happy to talk about private equity, venture capital and impact investing.