CMA CGM Group launches €200mn call to step up decarbonisation
Projects financed by CMA CGM Fund for Energies to support innovative solutions for French shipping industry
The CMA CGM Group has launched a €200mn ($218 million) call for projects targeted at startups and businesses working on concrete solutions to step up the pace of decarbonisation within all areas of the French shipping industry.
"Announced at the Assises de l’Économie de la Mer (French maritime economy conference) by Rodolphe Saadé, Chairman and Chief Executive Officer, CMA CGM Group, it is backed by the CMA CGM Fund for Energies, says an official release.
The call for projects is open to all startups and businesses in the following areas:
*Tourism and cruising
*fishing and seafood products
*Naval and nautical industries; and
"Projects will be selected based on their concrete impact on the decarbonising of the French shipping industry, the maturity of the projects and the economic feasibility. Some of them may receive shared investments from the public sector and private operators and benefit from the assistance of shipping industry experts to give them every chance of success."
The CMA CGM Group opens the platform on January 30, 2023 (https://decarbonation.cma-cgm.com) in collaboration with the French State Secretariat for the Sea and the various public actors, the release added.
The selected projects will be financed by the CMA CGM Fund for Energies created by Saadé in September 2022, providing €1.5 billion ($1.6 billion) over five years, and aims to accelerate energy transition in order to achieve Net Zero Carbon by 2050.