The International Maritime Organization (IMO) has announced that the Government of Finland has pledged €150,000 to the IMO-GreenVoyage2050 project – and the funding will help support a study on alternative marine fuels production in the Caribbean.
The aim of the GreenVoyage2050 Project is to support developing countries – notably Small Island Developing States (SIDS) and Least Developed Countries (LDCs) – in their efforts to reduce GHG emissions from ships and in ports.
SIDS-specific study on the alternative marine fuels
In a statement posted on its website, the IMO said that the funding from Finland will boost the project’s efforts to ‘focus on pilot demonstrations, support beneficiary countries in developing closer coordination in their energy transition plans and identify potential alternative fuel opportunities for maritime decarbonisation’.
In particular, the funding from Finland will support the development of a SIDS-specific study on the alternative marine fuel production potential within the Caribbean region. The research will include analysis of what infrastructure and operational changes are required for alternative fuels to be used in shipping in a meaningful way.
Other activities proposed include the hosting of a regional stakeholder roundtable, with a view to the possible development of a regional maritime alternative fuels’ roadmap, and identification of potential sources of finance for its implementation.
Jose Matheickal, Director, Department of Partnerships and Projects, IMO, commented: ‘The GreenVoyage2050 Project is a demonstration of our commitment to supporting developing countries in our united global effort to reduce emissions from shipping. This funding will enable the project to provide support to Caribbean SIDS in their maritime decarbonization in line with the IMO GHG Strategy, by providing them with a solid understanding of maritime alternative fuel transition opportunities, and related needs for investment and infrastructure changes.’
Anita Makinen, Alternate Permanent Representative of Finland to IMO, added: ‘Finland is committed to supporting SIDS in their efforts to reduce maritime emissions in line with the IMO GHG Strategy. SIDS is vulnerable in the face of accelerating climate change. Therefore, we are pleased that this contribution will build on the important work being done by the GreenVoyage2050 Project in supporting SIDS.’
GreenVoyage2050 has been funded by the Government of Norway since its inception in 2019 and, in an agreement signed by Norway and IMO on 28 September – World Maritime Day – funding was confirmed for Phase Two of the project up to 2030.
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Source: IMO
