societies—including ClassNK, IRClass, Lloyd's Register and RINA. In addition, a yard in Chattogram, Bangladesh has also become the first one to achieve an SoC by ClassNK in January 2020, having first achieved a RINA SoC in 2017. Furthermore, to encourage the growth of India's vital ship recycling sector, in November 2019, the Government of India acceded to the Hong Kong Convention for Safe and Environmentally Sound Recycling of Ships and became the only South Asian country and major ship recycling destination so far to take such a step. The EU Ship Recycling Regulation Most recently, in March 2012, the European Commission proposed tougher regulations to ensure all parties take responsibility. The aim of the EUSRR was to facilitate the early ratification of the Hong Kong Convention; however, it differs from the HKC in the way yards are authorised and in its list of inventories of hazardous materials, or IHM. Under this regulation, if a vessel has a European flag, it must be disposed of in a shipyard on an EU "green list." The facilities would have to show that they are compliant and regulated internationally to bypass corrupt local authorities. This list, as of 11 November 2020, comprises 43 yards, including 34 yards in Europe, eight yards in Turkey, and one yard in the USA. The list excluded some of the most major ship recycling yards in India and Bangladesh, which have achieved SoCs with the HKC in various class societies. This exclusion has led to many ship owners changing the flag to evade the regulations, and many excluded countries to strive towards bringing the HKC into force as the universal regulation, arguing that it would be irrational if international shipping were regulated by multiple and competing standards. Risks Health risks Seventy percent of ships are simply run ashore in developing countries for disassembly, where (particularly in older vessels) potentially toxic materials such as asbestos, lead, polychlorinated biphenyls and heavy metals along with lax industrial safety standards pose a danger for the workers. Burns from explosions and fire, suffocation, mutilation from falling metal, cancer and disease from toxins are regular occurrences in the industry. Asbestos was used heavily in ship construction until it was finally banned in most of the developed world in the mid-1980s. Currently, the costs associated with removing asbestos, along with the potentially expensive insurance and health risks, have meant that ship-breaking in most developed countries is