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CMA CGM earmarks $218m for decarbonisation of French shipping sector

30 January 2023

French liner CMA CGM has initiated a call for projects targeted at startups and businesses working on solutions to step up the pace of decarbonisation within all areas of the French shipping sector.

The Marseille-based company is offering €200m ($218.2m) out of its $1.5bn energy transition fund to all companies operating in the maritime industry in mainland France and the French overseas territories. The call for projects includes shipping, tourism and cruising, fishing and seafood products, infrastructure, naval and nautical industries and renewable energies.

CMA CGM said projects will be selected based on their concrete impact on the decarbonising of the French shipping industry, their maturity and their economic feasibility.

“Some of them may receive shared investments from the public sector and private operators and beneficiate from the assistance of shipping industry experts to give them every chance of success, the carrier added in a release.

The five-year “Fund for Energies” was created by Rodolphe Saadé in September 2022 with the aim to accelerate CMA CGM’s energy transition in order to achieve net zero carbon by 2050.