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The CMA CGM Group has announced it is creating a ‘Special Fund for Energies’, backed by a five-year, $1.5 billion budget, to accelerate its energy transition and achieve net-zero carbon by 2050.

The container transportation and shipping company says the Fund will invest to support the industrial production of new fuels, as well as low-emission mobility solutions across its business base. The Fund will also help to support a global innovation platform developed alongside large corporations, SMEs, start-ups, and the academic and scientific community.

‘This fund will enable us to make substantial investments in innovative projects to decarbonise our business,’ said Rodolphe Saadé, Chairman and CEO of the CMA CGM Group. ‘We have allocated the resources needed to accelerate our energy transition and that of the entire shipping and logistics industry.’

The Fund will be structured around four lines of focus, the first of which will involve supporting the development and production of renewable fuels. The remaining three lines of focus involve accelerating the decarbonisation of port terminals, warehouses and truck fleets; supporting, trialling and launching projects ‘at the cutting edge of innovation’; and pursuing energy savings and improving the energy efficiency of CMA CGM employee working methods and daily mobility.

As previously reported, in July, it was announced that CMA CGM and Engie were set to co-invest in the Salamander biomethane project to support their plans for producing renewable gas that can be used as marine fuel. By 2026, the French shipping company is scheduled to have 77 dual-fuel ‘e-methane-ready’ vessels in its fleet.

 

 

 

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