Energy giant bp has joined the Singapore-based Global Centre for Maritime Decarbonisation (GCMD) as a strategic partner.
GCMD was established in August 2021 to help the maritime industry meet or exceed the International Maritime Organisation’s (IMO) greenhouse gas emissions reduction targets for 2030 and 2050.
It aims to achieve the goals by creating opportunities for cross-industry collaboration and sharing the outcomes of projects, aimed at helping fuel the energy transition within the maritime industry.
The partnership adds SGD$10 million (£5.6m) in funding, boosting GCMD’s efforts to help drive decarbonisation of the industry.
Around 300 ships are on the water for bp at any one time, 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 developing best practices with its customers through its gas and low carbon energy business that integrates the company’s existing natural gas capabilities with its low and zero carbon businesses and markets, including solar, wind and hydrogen.
Carol 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.”