A partnership agreement ceremony was held this morning in Singapore to officially welcome BP as a strategic partner of the Global Centre for Maritime Decarbonisation (GCMD). GCMD was established to aid in the decarbonization of the maritime industry, and BP is glad to be collaborating with them to achieve this goal.
GCMD is headquartered in Singapore, which is home to one of the world’s busiest ports. It was founded in August of last year as a non-profit to assist the maritime industry in meeting or exceeding the International Maritime Organization’s (IMO) GHG emission reduction targets for 2030 and 2050. It intends to accomplish this by fostering cross-industry collaboration and sharing the results of its projects in order to aid the maritime industry’s energy transition. This agreement adds S$10 million (USD$7.4 million) to GCMD’s efforts, boosting them even more.
“bp has helped shape the shipping industry for more than 100 years. A net-zero future for the maritime sector demands industry collaboration, and GCMD is bringing to the forefront the conversations that matter most. As part of GCMD, we look forward to working with key industry players to further progress solutions at the pace and scale needed to help this carbon-intensive sector transition,”Carol Howle, bp’s executive vice president for trading & shipping, said.
bp trading & shipping (T&S) is a top energy trading business around the globe. bp has roughly 300 ships on the water at any given time, allowing it to transfer around 240 million tonnes of product each year. Through bp’s gas and low carbon energy business, which integrates the company’s existing natural gas capabilities with its low and zero-carbon businesses and markets, including wind, solar, and hydrogen, the company will look to leverage GCMD’s findings in its own maritime activities and share developing best practices with its customers.
“bp’s net-zero ambitions and investments in low carbon solutions are aligned with GCMD’s mission and projects. Together with bp and our other partners, we aim to foster collaboration to address challenges and untangle the complexities of decarbonizing shipping. We look forward to working closely with and leveraging bp’s experience and expertise in our pilots and trials,”Professor Lynn Loo, GCMD’s chief executive officer, said.
By developing new decarbonization technologies and capacities to generate novel zero-carbon energy solutions, BP is also supporting zero-carbon supply chains. bp prioritizes the safe development of hydrogen, ammonia, biofuel, and carbon markets, and working with the GCMD on these projects is a strategic fit.
“A net zero future for the maritime sector demands industry collaboration, and GCMD is bringing to the forefront the conversations that matter most. As part of GCMD, we look forward to working with key industry players to further progress solutions at the pace and scale needed to help this carbon-intensive sector transition,”Carol Howle, executive vice president, trading & shipping.
Lambros Klaoudatos, BP’s senior vice president of shipping, will join the board of GCMD as part of the agreement. Following its relationships with the Global Maritime Forum (GMF), the Mærsk Mc-Kinney MøllerCenter for Zero Carbon Shipping (MMMCZCS) in Europe, and the Blue Sky Maritime Coalition in the United States, BP has formed a strategic alliance with GCMD. These organizations are working together to accelerate the decarbonization of the maritime sector and provide global support for BP’s maritime decarbonization efforts in Asia, Europe, and the United States.
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