Shipping Sector Proposes USD 5 Billion R&D Board to Cut Emissions
The global maritime transport industry has submitted a proposal to form the world’s first collaborative shipping R&D programme to help eliminate CO2 emissions from international shipping. The proposal includes core funding from shipping companies across the world of about USD 5 billion over a 10-year period.
Highlights of the proposal:
- A new non-governmental Research & Development organisation to pave the way for decarbonisation of shipping.
- Core funding from shipping companies across the world of about USD 5 billion over a 10-year period.
- To accelerate the development of commercially viable zero-carbon emission ships by the early 2030s.