UK Maritime Minister announces funding for low carbon targets

In a special presentation held during the 12th Annual Capital Link Shipping & Marine Services Forum in London, Ms Ghani said the government funding was aimed at making the UK a global centre of research into reducing shipping’s carbon footprint.

The maritime minister specifically committed the funds to back projects through MarRI-UK, a consortium of UK-based maritime organisations. MarRI-UK has already allocated £1M in government funding to support early stage clean maritime projects, and the additional £1M is to be used for new, clean shipping technology and innovation projects, as Ms Ghani explained.

“I am delighted to announce this fantastic funding for pioneering research, bringing the UK ever closer to zero-emissions shipping. The UK continues to lead the way on the global stage, playing a key role in reaching an international agreement to reduce greenhouse gas emissions from shipping by at least 50% in 2050. This latest investment will help ensure our great maritime nation remains sustainable years into the future,” she said.

Announcement of the aid followed an earlier call from the minister, asking major companies in the shipping industry to back start-ups and focus on making advances in logistics supply chain management and creating smarter ports.

Elsewhere, the UK government announced a conference to take place in mid-2020. The new Green Finance for Maritime conference in mid-2020 will bring together representatives from the government, financial services and technology sector to build relationships and broker new deals.

The above initiatives and the 2020 conference are part of a larger UK government strategy for shipping known as Maritime 2050 strategy, a long term look at the opportunities for the sector for the next 30 years.