French container shipping giant CMA CGM is setting up a $2B fund to accelerate its energy transition to cleaner fuels.
Some credit to the steps that the company has taken to address emissions e.g. ordering of new vessels that are powered by LNG, exploring Hydrogen as an alternate fuel, etc. But, the cynical side of HohumYNWA says, is this more a PR stunt on the eve of IMO regulations taking effect in about three months?
I don’t know about IMO regulations, but one of those UN conferences on climate change is just beginning in Egypt. The PR could be aimed at that.
It depends on the consensus of their engineers. If the engineers are clearly saying we can do this and create a savings…then it will in all likelihood get done.
PR battles do not cost $2 billion.
However, spending $2 billion doesn’t necessarily get you to where you want to go. From another thread, think about all the money spend over the years on algae fuel.
“Stunt” was a poor word choice on my part. But, per Pete’s observation, if there is an ongoing UN-related climate conference, I do think there is some “look what CMA CGM are doing wrt emissions”
These guys are not consumer goods that need the publicity.