Page 51 - European Energy Innovation - autumn 2018 publication
P. 51
Autumn 2018 European Energy Innovation 51
GREEN SHIPPING
crisis and are still very reluctant to carry freight and as many as 1,885 extra costs is not conducive to green
finance shipping companies today. passengers and crew. The ship investments,” says François Gaudet, a
will have a more efficient motor senior loan officer at the EIB.
“The investments in shipping are and a cleaner exhaust, making
important for the climate, but on the sure it will meet new EU emission The Bank is constantly open to new
financing side, new environmental standards. shipping investments and always
regulations are causing significant trying to engage with maritime
increases in capital investment for • two €150 million loan guarantees organisations, ship owners, shipyards,
shipping companies,” says Michael with ABN AMRO in the Netherlands governments and commercial banks
Finucane, a loan officer at the EU to encourage lending that helps to improve the investment climate.
bank. “So it is important that the EIB shippers reduce emissions and It’s important that we reach out
is there for the sector.” become more fuel efficient. and encourage discussions in many
corners of the shipping industry to
A FINANCING GAP • a €150 million green shipping ensure both economic growth and
The EIB is doing its best to fill this guarantee with Société Générale environmental sustainability as the
financing gap. The Green Shipping in France. sector makes the green transition. l
Programme, for example, is
supporting the construction of new • a €300 million green shipping deal
ships and the retrofitting of older with ING in the Netherlands.
vessels with sustainable technologies,
such as cleaner alternative fuels, THE VALUE OF GREEN SHIPPING
better ballast water handling and The shipping industry appreciates the
more energy efficient equipment. EIB’s help because ship financing is
not easy, but to make matters worse,
“I think it’s no secret that the shipping it is tough for shipping companies to
sector is a major contributor to CO2 invest in green renovations because
emissions,” says the EIB’s president, their clients are often unwilling to
Werner Hoyer. “Climate action is one pay the higher costs that come
of the EIB’s top priorities, and this with transporting goods on more
type of green shipping financing is an environmental friendly ships.
incentive for ship owners to consider
doing things differently.” “Many companies that transport
goods on ships do not yet recognize
Recent examples of the EIB’s the value of green shipping, and
commitment to the maritime sector their unwillingness to pay for the
include:
• a €50 million loan to help Contact information
Finnlines upgrade its hulls and
propellers and to add scrubbers Chris Knight
that eliminate toxic fumes. Tel: +352 4379 22000
Email: :c.knight@eib.org
• €75 million loan guarantee to help
the Irish Ferries company build an
environmentally friendly ferry to
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