CMA CGM commits $200 million to French maritime industry

The CMA CGM Group (CMA CGM) has reaffirmed its commitment to the development of a decarbonised and competitive French maritime industry.

Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, announced several measures to support the company’s vision during the Assises de l’Économie de la Mer conference.

CMA CGM announced in September 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.

In addition, CMA CGM will dedicate €200 million ($201 million) to projects led by French shipping and port industry organisations.

A dedicated centre for projects will be launched in January 2023 aiming to support initiatives and accelerate the pace of the energy transition across the entire shipping and port industry in France.

READ: CMA CGM Group new investor in €2 billion hydrogen impact fund

Finally, CMA CGM said it is making a commitment to the École Nationale Supérieure Maritime (ENSM) to increase the size of its intake and support the training of student officers to meet the challenges of the future – the energy transition and digital technology.

In September, the group reviewed its financial statements for the second quarter of 2022, showing a solid performance in spite of challenging global supply chains environment.

Revenue stood at $19.5 billion in the second quarter of 2022, a year-on-year increase of 57 per cent.