Oil giant BP (LON: BP) has joined an international organisation aimed at helping to axe emissions from the maritime industry.
The supermajor has become a strategic partner of the Global Centre for Maritime Decarbonisation (GCMD), which is based in Singapore.
Established as a non-profit organisation in August, the GCMD was set up to help the sector meet or exceed the International Maritime Organization’s (IMO) emissions reduction goals for 2030 and 2050.
It aims to do this by creating opportunities for cross-industry collaboration and sharing project outcomes.
As part of the new partnership more than $7 million has been allocated to boost the work of the GCMD.
© Supplied by BPCarol Howle, BP’s executive vice president for trading & shipping, said: “BP has helped shape the shipping industry for more than 100 years. A net zero future for the maritime sector demands industry collaboration, and GCMD is bringing to the forefront the conversations that matter most. As part of GCMD, we look forward to working with key industry players to further progress solutions at the pace and scale needed to help this carbon-intensive sector transition.”
As part of the partnership, Lambros Klaoudatos, BP’s senior vice president of shipping, will take up a seat on the GCMD’s board.
BP’s trading and shipping division is one of the world’s leading energy trading houses.
At any one time, around 300 ships are on the water for the company, enabling it to move around 240 million tonnes of product every year.
BP will look to leverage GCMD’s findings in its own maritime activities and share best practices with its customers through its gas and low carbon energy business.
Professor Lynn Loo, GCMD’s chief executive officer, said: “BP’s net zero ambitions and investments in low carbon solutions are aligned with GCMD’s mission and projects. Together with BP and our other partners, we aim to foster collaboration to address challenges and untangle the complexities of decarbonizing shipping. We look forward to working closely with and leveraging BP’s experience and expertise in our pilots and trials.”
“A net zero future for the maritime sector demands industry collaboration, and GCMD is bringing to the forefront the conversations that matter most. As part of GCMD, we look forward to working with key industry players to further progress solutions at the pace and scale needed to help this carbon-intensive sector transition.”
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