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Portnet - Industry backs United Nations 5 billion Moon-Shot Programme to decarbonise shipping

BIMCO, CLIA, IMCA, INTERCARGO, INTERFERRY, International Chamber of Shipping INTERTANKO, IPTA and World Shipping Council. • Industry partners welcome “moon-shot” proposal from governments to set up a $5 billion USD fund to catalyse the vital research and development needed to help shipping meet UN decarbonisation goals. • Governments controlling a major share of world shipping to submit detailed proposals to the United Nations International Maritime Organization. • Shipping leaders are calling on governments to ‘be on the right side of history’ and take forward the proposal at a critical meeting in June with a view to approval in November. • Zero-emission ocean going ships deployed at the scale required by 2030 will be ‘near impossible’ if this proposal is not supported by UN IMO member states.

Shipping Industry Backs United Nations $5 Billion Moon-Shot Programme To Decarbonise Shipping

Shipping Industry Backs United Nations $5 Billion “Moon-Shot” Programme To Decarbonise Shipping Industry partners welcome “moon-shot” proposal from governments to set up a $5 billion USD fund to catalyse the vital research and development needed to help shipping meet UN decarbonisation goals. Governments controlling a major share of world shipping to submit detailed proposals to the United Nations International Maritime Organization. Shipping leaders are calling on governments to ‘be on the right side of history’ and take forward the proposal at a critical meeting in June with a view to approval in November. Zero-emission ocean going ships deployed at the scale required by 2030 will be ‘near impossible’ if this proposal is not supported by UN IMO member states.

Industry calls for adoption of moon-shot $5 billion R&D fund

Posted: 4 months ago The fund is aimed at supporting collaborative programmes for the applied research and development of zero-carbon technologies, specifically tailored for maritime application, including development of working prototypes. It also aims to assist CO 2 reduction projects in developing countries, including Pacific island nations. The new proposal addresses various legal operational, administrative, legal and governance aspects put forward by governments at MEPC 75. The proposal coincides with the calls for ‘urgency and ambition’ on climate change from the UN Secretary-General António Guterres. The proposal will be reviewed at a critical IMO meeting in London in November 2021, which will coincide with the next UN Climate Conference (COP 26) in Glasgow.

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