The shipping industry has backed a “moon-shot” proposal from governments to set up a US$5bn fund to catalyse the vital research and development needed to help shipping meet UN decarbonisation goals.
Submitted by governments who control a major share of the world’s shipping tonnage to the UN International Maritime Organisation (IMO), the proposal aims to establish an IMO Maritime Research Fund using mandatory contributions from the world’s shipping countries.
The fund will support a new International Maritime Research and Development Board (IMRB) to commission collaborative programmes for the applied research and development (R&D) of zero-carbon technologies.
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