The Special Fund for Energies announced today by CMA CGM is backed a $1.5bn budget over a five-year period.
A special dedicated team will be set up from October this year comprising engineers, energy experts, financial analysts and project managers from within the shipping and logistcs group.
“This fund will enable us to make substantial investments in innovative projects to decarbonize our business. We have allocated the resources needed to accelerate our energy transition and that of the entire shipping and logistics industry,” said Rodolphe Saadé, Chairman and CEO of the CMA CGM Group.
The fund will be structured around four lines of focus. First, is promoting the industrial scale development and production of green fuels. These include biofuels, biomethane, e-methane, carbon-free methanol, and other alternative fuels.
The second focus area is on the landside and is the accelerating the decarbonization of port terminals, warehouses and truck fleets. CMA CGM operates more than 700 warehouses and around 50 port terminals worldwide and efforts will be focused around electrification.
The third area of focus in the development of projects, prototypes and trials. CMA CGM is taking a stake in Neoline, a prototype sail-powered cargo ship set to serve transatlantic routes by the end of 2024, and it will continue to optimise the design and propulsion of its large containerships.
The fourth area is Pursuing energy savings and improving the energy efficiency of CMA CGM employee working methods and daily mobility. This includes building energy management plans, business travel and working from home.
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