France Has Invested 300 Million Euros in Decarbonization and CMA CGM Has Committed to Putting up 200 Million
France has announced the France-Mer 2030 plan to lead the vanguard against decarbonization by 2030. The maritime sector will be on the list of target sectors to help with the goal over a period of 7 years.
Secretary Berville encouraged private players in the maritime industry to work together with France to achieve a decarbonized shipping sector. Combined with CMA CGM’s 200 million euro pledge, this can bring about real change for the environment.
The French government planned to spend an initial 300 million euros over five years, which would be allocated through various methods, such as subsidies, equity investments, and guarantees. The end goal is to develop a zero-emission vessel design that would create new jobs within the industry. They will also double the number of maritime officers trained to implement decarbonization throughout the country.
Recently, CMA CGM‘s CEO, Rodolph Saade pledged his company’s support for the plan. Earlier in the year, CMA CGM created an Energy Fund; which will have a budget of $1.5 billion over the next 5 years with a focus on promoting sustainability. One-hundred million of this fund will be dedicated to French shipping projects according to Saade.
The French government is looking for partnerships to help train more officers where the demand is high. CMA CGM has been able to partner with them by committing funds and resources to the École Nationale Supérieure Maritime, an institute that trains prospective French officers.