Green Climate Fund (GCF) discussed the possibility of an application to its Project Preparation Facility (PPF), worth up to USD 1.5 million, to fast-track the creation of shipping R&D Fund, that could be used to accelerate investment proposals to decarbonize the shipping industry.
Meeting of industry leaders and ministers at COP26 in Glasgow will seek to increase spending on green technology development in shipping to meet net zero targets.
A massive scaling up of finance for research and development is essential to achieve zero carbon emissions by 2050. This report outlines the urgent steps that will be required to completely transform shipping’s current dominant propulsion technology and fuels landscape, and provides a blueprint for governments and industry to target their investment in innovation.
A massive scaling up of finance for research and development is essential to achieve zero carbon emissions by 2050, says report by International Chamber of Shipping and global engineering, environmental and strategic consultancy Ricardo.