Australia joins global shipping sector in announcing $5billion R & D fund to eliminate CO2 emissions

  • The international shipping community has today announced plans to form a new non-governmental Research & Development organisation to pave the way for decarbonisation of shipping.
  • Core funding from shipping companies across the world of about USD 5 billion over a 10-year period.
  • To accelerate the development of commercially viable zero carbon-emission ships by the early 2030s.
  • As a nation critically dependent on shipping, and one with huge potential for the development of low and zero carbon fuels, this is a significant development for Australia.

Read the full Media Release here.