The CMA CGM Group announced that it is creating a Special Fund for Energies, backed by a five-year, USD 1.5 bn budget, to accelerate its energy transition and achieve net-zero carbon by 2050.
The Fund will invest in supporting the industrial production of new fuels and low-emission mobility solutions across the Group’s business base (maritime, overland and air freight shipping, port and logistics services, and offices). In addition, it will help to support a global innovation platform developed alongside large corporations, SMEs, start-ups, and the academic and scientific community.
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said: “The CMA CGM Group has been acting to protect the environment for many years. It is at the heart of my convictions and of our strategy. However, in the face of the climate emergency it is our duty to do more and accelerate our actions. This Fund will enable us to make substantial investments in innovative projects to decarbonise our business. We have allocated the resources needed to accelerate our energy transition and that of the entire shipping and logistics industry.”
Supporting the development and production of renewable fuels
The CMA CGM Group has already begun to respond to climate change by using liquefied natural gas (LNG) as a transitional maritime fuel.
Accelerating the decarbonisation of port terminals, warehouses and truck fleets
The CMA CGM Group operates more than 700 warehouses and around 50 port terminals worldwide. It is committed to enabling these facilities to generate enough carbon-free electricity (wind, solar, biomass-fuelled, hydrogen-fuelled) to become energy self-sufficient.
Port equipment in use will be electrified more quickly wherever feasible and practical. CEVA Logistics, a CMA CGM subsidiary, aims to meet all its electricity needs through carbon-free power generation by 2025. In addition, the subsidiary has plans to install 1.8 million sqm of photovoltaic panels and expand the use of LED lighting.
A transition plan for the truck fleets will also be implemented, focusing on electrifying CEVA Logistics trucks.
Supporting, trialling and launching projects at the cutting edge of innovation
In February 2020, the Group joined forces with Energy Observer to enable carbon-free maritime shipping on a larger scale, particularly for short distances.
The Group has also decided to acquire a stake in Neoline, a prototype sail-powered cargo ship set to serve transatlantic routes by the end of 2024. It also supports SeaOrbiter, a prototype marine research vessel and floating oceanographic laboratory exploring pathways to the emerging blue economy.
Pursuing energy savings and improving the energy efficiency of CMA CGM employee working methods and daily mobility
The Group aims to build an energy management plan for its office buildings to reduce energy use (investment in insulation, automation, energy renovation) and diversify their energy mix (solar panels, seawater loop). It will also encourage and incentivise employees to use soft mobility solutions for commuting and business travel while improving the work-from-home systems used to avoid unnecessary travel.
The Fund will be backed by a USD 1.5 bn budget and managed, starting in October 2022, by a dedicated team operating as a cross-functional organisation covering all the Group’s operations and divisions.
Source: CMA CGM