CMA CGM creates a €1.5 billion energy fund

Following the publication of its^second quarter results, CMA CGM announced the creation of a special energy fund. Intended to accelerate the Group's energy transition to achieve carbon neutrality by 2050, the fund has a budget of €1.5 billion over five years to support the industrial production of new energies as well as low-emission mobility solutions in all of CMA CGM's activities (sea, land and air transport; port and logistics activities; offices).

In its press release, CMA CGM indicates that the fund will be used to develop new industrial-scale production units for alternative fuels (biofuel, biomethane, e-methane, carbon-free methanol, etc.), in partnership with other major industrial groups, investment funds and startups, and to accelerate the decarbonization of its port terminals, warehouses and land vehicle fleets. CMA CGM plans to install low-carbon energy production systems (wind, solar, biomass, hydrogen) at its 700 or so warehouses and 50 or so port terminals to cover the consumption needs of these sites. Ceva Logistics' objective is to cover 100% of its electrical needs with low-carbon electricity by 2025," notes the shipping company. A program to equip 1.8 million square meters of photovoltaic panels and the generalization of LED lighting is therefore planned.

At the same time, the group intends to continue to be involved in and invest in innovative decarbonization projects: in addition to continuing to work in partnership with Energy Observer on a prototype container ship dedicated to regional routes and powered by liquid hydrogen, it has decided to become a shareholder in the Nantes-based shipowner Neoline, which will be launching sailing cargo ships within two years. " The fund will support a global innovation platform developed with large companies, SMEs, startups, academic and scientific players," concludes CMA CGM. In its press release, the company also announced that an energy efficiency plan should enable it to achieve 10% savings during the winter of 2022-2023 in France, and that it is ready to contribute to the 'green fund' proposed by the French government to support joint projects.

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‍^{Source : supplychainmagazine.fr}