Shipping Industry Backs ‘Moon-Shot’ $5 Billion Program to Accelerate Shipping’s Decarbonization

Home Community Industry News Shipping Industry Backs ‘Moon-Shot’ $5 Billion Program to Accelerate Shipping’s Decarbonization

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    Greensea Systems
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    Shipping trade groups representing the vast majority of the global shipping industry are throwing their support behind a “moon-shot” proposal by governments for a $5 billion research and development fund to help accelerate zero-carbon fuels and technologies within the shipping industry.

    The proposal, which was submitted today to the UN International Maritime Organization (IMO) by governments controlling a major share of the world’s shipping tonnage, builds on a concept first proposed by shipping industry participants in November during the 75th Session of the IMO Marine Environment Protection Committee (MEPC75).

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