CMA CGM is creating a US$1.5 billion energies fund to support the industrial production of new fuels and low-emission mobility innovations.
The intent of the Special Fund for Energies is to accelerate CMA CGM’s energy transition across maritime, landside and air freight shipping; port and logistics services and offices.
The group said the fund would also support a global innovation platform developed alongside large corporations, SMEs, start-ups and the academic and scientific community.
Rodolphe Saadé, chairman and CEO of CMA CGM, said the group has been working 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.”
The fund is structured around four lines of focus, the first of which relates to supporting the development and production of renewable fuels.
It involves the driving forward the emergence of industrial-scale production facilities for biofuels, biomethane, e-methane, carbon-free methanol and other alternative fuels.
The task also intends to increase and secure fuel volumes in partnership with other major industrial groups with expertise in these technologies, or with investment funds or promising start-ups.
The second line of focus relates to accelerating the decarbonisation of port terminals, warehouses and truck fleets.
CMA CGM Group said it plans to enable its 700-plus warehouses and 50 port terminals worldwide to generate enough carbon-free electricity to become energy self-sufficient.
“Port equipment in use will be electrified more quickly wherever feasible and effective,” the group said.
“CEVA Logistics, a CMA CGM subsidiary, aims to meet all its electricity needs through carbon-free power generation by 2025.
“The subsidiary has plans to install 1.8 million square metres of photovoltaic panels and expand the use of LED lighting.”
A transition plan for truck fleets is also expected to be implemented with a focus on electrifying CEVA Logistics trucks.
The third focus of the energies fund is to support, trial and launch innovative projects and prototypes.
The group noted it had joined forces with Energy Observer, the company behind the Observer 2 project involving the development of a prototype containership fuelled by liquid hydrogen.
It has also acquired a stake in Neoline, a prototype sail-powered cargo ship expected to serve trans-Atlantic routes by the end of 2024.
And the fourth line of focus involves pursuing energy savings and improving the energy efficiency of CMA CGM employee working methods and daily mobility.
The fourth pillar is underpinned by goals to build an energy management plan for group office buildings; encourage employee use of soft mobility during commutes and business travel; and engage employees through an approach that rewards innovative environmental protection.
From October this year, the Special Fund for Energies is expected to managed by a team comprising some of the group’s most talented engineers, energy experts, financial analysts and project managers.
