Singapore signs on new partners to propel maritime decarbonization

During Singapore Maritime Week 2022 on April 6, the Global Centre for Maritime Decarbonization (GCMD) signed on four new partners, adding to the four partners that were onboarded earlier this year.

The energy transition for the sector to meet decarbonization goals translates to disruptive and transformative changes to fuel types and their production, bunker infrastructure and the need for quality and abatement assurances across supply chains. 

Recognizing this, these partnerships with different stakeholders across the value chain are an integral part of GCMD’s mission to foster collaboration and ensure representation and a diversity of voices across a complex ecosystem. 

The first integrated energy companies to join the Centre, bp and Chevron, bring their expertise and experience as energy producers and end users to the table. Through the International Chamber of Shipping (ICS), GCMD aims to leverage its strong maritime membership base for inputs on regulatory and operational hurdles, and for GCMD to share learnings from the Centre’s decarbonization projects. The Boston Consulting Group (BCG) brings insights on macro trends in decarbonization to help frame the Centre’s efforts.

In welcoming the new partners, Professor Lynn Loo, CEO of GCMD said: “GCMD believes in taking a well-to-wake approach when it comes to fostering collaboration through partnerships, which is integral to taking on the grand challenge and untangling the complexities of decarbonizing shipping. 

“The four partners that we have signed on this week – bp, Boston Consulting Group, Chevron and the International Chamber of Shipping – will bring complementary perspectives that are critical to decarbonizing the sector.  

“Together our new partners bring a combined S$25 million cash and in-kind contributions as well as their core competencies, technologies and relationships towards our common goal to deploy low-/zero-carbon solutions cheaper, cleaner, and faster.”

Photo credit: iStock/ Sakarin14

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