Norwegian Shipowners’ Association welcomes Ocean Fund

If shipping is to achieve ambitious climate goals, we need to put in place new and effective measures that will stimulate investment in green technology and emission reducing measures. The Norwegian Shipowners' Association therefore welcomes the proposal from The European Parliament Rapporteur on the EU ETS, MEP Peter Liese to establish an ocean fund financed by the industry itself through the ETS

75 per cent of the funds received will go back to the shipping industry to invest in green technologies and alternative fuels.  The fund will also be used to finance carbon contracts of difference in order to reduce the cost difference between fossil and renewable fuels.

 - This is a very good solution which will speed up the green transition in the industry and help make green solution more commercially viable, says Harald Solberg, CEO of the Norwegian Shipowners’ Association.