Econostrum | Economic News in the Mediterranean

CMA CGM to invest €1.5 billion in the energy transition of transport

Written by Eric Apim on Tuesday, September 6th 2022 à 14:45 | Read 343 times

CMA CGM wants to achieve 10% energy savings in France during the winter of 2022-2023 (photo: F.Dubessy)
CMA CGM wants to achieve 10% energy savings in France during the winter of 2022-2023 (photo: F.Dubessy)
FRANCE. The French group CMA CGM is launching a special €1.5 billion energy fund over five years. The Marseille-based shipping company said in a press release, published Sunday, September 4, 2022, that it will "accelerate the energy transition in transport and logistics (...) with a view to achieving Net Zero Carbon by 2050".

"For many years, CMA CGM has been committed to protecting the environment. This is at the heart of my convictions and our strategy. But in the face of the climate emergency, it is our duty to redouble our efforts.
With this fund, we will be able to invest significantly in innovative projects to decarbonize our activities. We are equipping ourselves with the resources needed to accelerate our energy transition and that of the entire transport and logistics industry," said Rodolphe Saadé, Chairman and CEO of CMA CGM.

The group intends to support the "industrial production of new energies, as well as low-emission mobility solutions" in all its activities. It will therefore cover not only maritime, land and air transport, but also port and logistics activities and offices. "The fund will support a global innovation platform developed with large companies, SMEs, startups, academic and scientific players," the press release continues.

4 pillars for the Fund

CMA CGM invests to achieve Net Zero Carbon (photo: CMA CGM)
CMA CGM invests to achieve Net Zero Carbon (photo: CMA CGM)
The Special Energy Fund will be based on four pillars: support for the development and production of renewable energies (LNG, biofuel, biomethane, e-methane, decarbonized methanol, etc.); accelerating the development of renewable energies; and promoting the use of renewable energies. ); accelerating the decarbonization of port terminals (50 for the group), warehouses (700) and land vehicle fleets; support, experimentation and the launch of projects at the cutting edge of innovation; commitment to sobriety and the strengthening of energy efficiency in the working methods and mobility of the group's 150,000 employees.

On this last point, the closest objective is to ensure that CMA CGM achieves energy savings of 10% in France during the winter of 2022-2023.

In October 2022, a team, "bringing together the best talents (engineers, energy specialists, financial analysts, project managers)" will be entirely dedicated to the management of this cross-functional fund, covering all the group's activities and divisions.

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