France has announced the France-Mer 2030 plan to lead the vanguard against decarbonization. The plan is aimed at the decarbonization of the maritime sector in particular over a period of 7 years.
While mapping out the plan during a meeting of the French Shipping Industry, France’s secretary for Maritime affairs Hervé Berville exhorted the private players in the maritime industry to join their effort. CMA CGM announced a further commitment in response by pledging 200 million euros to the decarbonization of the French shipping sector.
The French government has earmarked 300 million euros to spend over 5 years to accelerate the financing of Zero Emission ships. This funding would reach the industry in the form of subsidies, equity investments, and guarantees. The ultimate goal of this funding would be the development of a zero-emission vessel design. The government will also double the number of maritime officers trained in the industry to implement decarbonization.
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CMA CGM’s CEO, Rodolph Saade pledged his company’s support for the plan at the event. Earlier in the year, CMA CGM created an Energy Fund, which has a budget of $1.5 billion over the next 5 years. The fund is aimed at promoting sustainability by accelerating the production of decarbonized sources of energy, increasing efficiency all across the group’s activities, and so on. $200 million of this fund will be dedicated to French shipping projects according to Saade.
CMA CGM is also mirroring the French initiative to train more officers and has announced a commitment to the École Nationale Supérieure Maritime, which is an institute that trains prospective French officers. The support from CMA CGM will help the institute increase the strength of its classes and support the better training of French officers.
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