The CMA CGM Group has announced a new Special Fund for Energies to accelerate its energy transition and achieve net-zero carbon by 2050.
Backed by a five-year, $1.5 billion budget, the fund will invest in innovative projects to secure the supply of renewable energies and explore new solutions and prototypes to meet the group’s decarbonisation targets.
CMA CGM said it will also aid a global innovation platform developed alongside large corporations, SMEs, start-ups, and the academic and scientific community.
“The CMA CGM Group has been acting to protect the environment for many years,” said Rodolphe Saadé, Chairman and CEO of the CMA CGM Group.
“It is at the heart of my convictions and of our strategy. However, in the face of the climate emergency it is our duty to do more and accelerate our actions.
“This fund will enable us to make substantial investments in innovative projects to decarbonise our business. We have allocated the resources needed to accelerate our energy transition and that of the entire shipping and logistics industry.”
The Special Fund for Energy focuses on supporting the development and production of renewable fuels; accelerating the decarbonisation of port terminals, warehouses, and truck fleets; supporting, trialling, and launching cutting-edge innovation projects; and pursuing energy savings and improving the energy efficiency of CMA CGM employee working methods and daily mobility.
The fund follows on from projects that have already been identified and launched by the group, such as the recent co-investment with ENGIE in the Salamander project to produce up to 200,000 tons of renewable gas annually worldwide by 2028.
The Jupiter 1000 project is France’s first industrial demonstrator aiming to produce green hydrogen from renewable power and e-methane – a synthetic gas using this hydrogen and CO2 captured from the industrial process.