CMA CGM kicks off €200 million green call to action

CMA CGM kicks off €200 million green action

The CMA CGM Group has opened a call for green projects among startups and businesses in the French shipping industry.

The move seeks solutions for decarbonising the “blue economy” in mainland France and its overseas territories and will devolve around €200 million ($218 million) at all companies, announced in November 2022.

The areas targeted for decarbonisation include shipping, tourism and cruising, fishing and seafood products, infrastructure, naval and nautical industries, and renewable energies.

The projects will be selected based on their impact on decarbonising the industry, their maturity, and economic feasibility.

READ: Shell, CMA CGM sign partnership for decarbonisation

The Group is working with the French State Secretariat for the Sea and other public actors in accordance with France’s 2030 plan.

The call for projects is backed by the CMA CGM Fund for Energies, which was created in September 2022 and provides €1.5 billion ($1.63 billion) over five years to accelerate the company’s energy transition.

The fund invests in renewable energies and innovative projects to promote low-emission mobility solutions and decarbonise industrial facilities across the group’s activities.

The platform for the call for projects is available as of 30 January on the company’s website.

The CMA CGM Group posted strong financial results for the third quarter of 2022, totalling $19.9 billion in revenue.

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