Finland promotes financing of the GreenVoyage2050 project

The Government of Finland has pledged funding of €150,000 to the IMO GreenVoyage2050 project, which supports developing countries in their efforts to reduce greenhouse gas (GHG) emissions from ships and ports. .

The GreenVoyage2050 project is a key IMO initiative aimed at ensuring that no country is left behind in maritime decarbonisation. It has been instrumental globally in helping developing countries, including Small Island Developing States (SIDS) and Least Developed Countries (LDCs), advance the implementation of the IMO Strategy on GHGs, to undertake pilot demonstration projects on maritime decarbonization and to explore technologies in its ports and ships.

For most SIDS, the maritime sector is a lifeline, as it is their main connection to global trade. This is particularly the case in the Caribbean region, where significant maritime trade, both global and regional, is channeled between SIDS.

Finland becoming a donor to the GreenVoyage2050 project has given a boost to the project´s work, allowing it to focus on pilot demonstrations, support beneficiary countries in developing closer coordination in their energy transition plans and identify Possible alternative fuel opportunities for maritime decarbonization.

Funding received from the Government of Finland will support the development of a SIDS-specific study on the potential for alternative marine fuel production in the Caribbean region. The research will include an analysis of the infrastructure and operational changes required for alternative fuels to be used in shipping in a meaningful way.

Other proposed activities include holding a regional roundtable of stakeholders, with a view to the possible development of a regional roadmap on maritime alternative fuels, and the identification of possible sources of funding for its implementation.

José Matheickal, Director of the IMO Partnerships and Projects Department, expressed his gratitude to the Government of Finland for his financial contribution:

"The GreenVoyage2050 project is a demonstration of our commitment to supporting developing countries in our joint global effort to reduce emissions from shipping. This funding will enable the project to provide support to Caribbean SIDS in their maritime decarbonisation in line with the "IMO GHG Strategy, providing them with a solid understanding of the maritime transition opportunities for alternative fuels, and the related needs for investment and infrastructure changes."

Anita Makinen, Alternate Permanent Representative of Finland to the IMO, stated:

"Finland is committed to supporting SIDS in their efforts to reduce maritime emissions in line with the IMO GHG Strategy. SIDS are vulnerable to accelerating climate change. We are therefore pleased that this contribution builds on the important work being done by the GreenVoyage2050 project in support of SIDS.

The GreenVoyage2050 project has been funded by the Government of Norway since its inception in 2019 and, in an agreement signed by Norway and the IMO on World Maritime Day on 28 September, funding for the second phase of the project until 2030 was confirmed.


News and image obtained: "Organización Marítima Internacional"


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