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CMA CGM is creating a special fund for energy

French container giant CMA CGM has set up a $1.5 billion fund to accelerate a company-wide transition to renewable energy, the company said this week.

The logistics company’s five-year Special Energy Fund will include a team dedicated to accelerating decarbonisation across its maritime, inland and logistics operations worldwide. CMA CGM has set itself the goal of becoming carbon neutral by 2050. The fund will invest in supporting the industrial production of new fuels as well as low-emission mobility solutions across CMA CGM’s business base, which includes sea, land and air freight. ; port and logistics services; and offices. It will also help support a “global innovation platform” developed with large corporations, small and medium-sized enterprises (SMEs), startups, and the academic and research community, according to company executives. The fund’s activities are focused on four key areas:

  • Support for the development and production of renewable fuels, including biofuels, biomethane, electronic methane and carbon-free methanol;
  • Accelerating the decarbonisation of port terminals, warehouses and fleets – through wind, solar and other carbon-free electricity generation efforts and the use of electric port equipment where “feasible and efficient”;

  • Support, test and launch projects at the forefront of innovation, such as alternative energy prototypes;

  • As well as striving to save energy and increase the energy efficiency of work methods and daily mobility of CMA CGM employees.

“CMA CGM Group has been working to protect the environment for many years. This is at the heart of my beliefs and our strategy,” said Rodolphe Saade, chairman and CEO of CMA CGM Group, in a press release detailing the fund. “However, in the face of a climate emergency, it is our responsibility to do more and accelerate our action. This fund will allow us to make significant investments in innovative projects to decarbonize our business. We have committed the resources needed to accelerate our energy transition and the entire shipping and logistics industry.”

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