Global Centre for Maritime Decarbonisation (GCMD) partnered up with the Asian Development Bank (ADB) to advance maritime decarbonisation through sustainable finance.
GCMD announced its partnership with ADB, which was signed during the launch of its Sustainable and Resilient Maritime Fund (SRMF) at its annual meeting in Milan on 4-7 May. As announced, the partnership aims to advance green financing pathways that support a sustainable and resilient maritime sector.
SRMF aims to enable a future-ready maritime transport system through investing in port infrastructure, accelerate adoption of alternative fuels, close financing gaps, and foster regional policy harmonisation.
Moreover, GCMD is currently developing and testing methodologies to validate fuel savings through the deployment of onboard sensor installations. As stated, by providing clear attribution of fuel savings to specific technologies, GCMD aims to implement Pay-As-You-Save (PAYS), a financing model proven in other sectors.
Under PAYS, upfront investments in energy efficiency technologies (EETs) can be repaid over time, with payments directly tied to verified fuel savings.
Hideaki Iwasaki, Director General, Sectors Department 1, ADB, commented “Through the Sustainable and Resilient Maritime Initiative and associated new funding arrangements being developed, we are supporting our client countries to modernise ports, strengthen regional trade connectivity, and de-risk investments that drive greener, more resilient supply chains.”
At this critical juncture, the IMO’s announcement of a global emissions pricing mechanism sends the clearest signal yet that urgent action is required—not only to advance decarbonisation, but also to safeguard the long-term commercial viability of shipowners. Energy efficiency technologies (EETs) can play a vital role by reducing fuel consumption, thereby lowering the penalties shipowners will face under IMO’s framework.
…said Professor Lynn Loo, CEO, GCMD.
