EU rolls out ship financing portal to support shipping’s green transition

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🗞️ Driving the news: The European Commission has launched the Ship Financing Portal, a new platform designed to provide the maritime industry with access to a wide range of financial tools that support fleet modernization, improve efficiency, and reduce environmental impact

🔭 The context: The portal, developed by the Directorate-General for Mobility and Transport, addresses the information gap on financing opportunities in the shipping sector, centralizing access to various EU, Member State, and private financial products
• This initiative aligns with broader efforts like the Poseidon Principles, which encourage responsible financing to meet climate goals

🌍 Why it matters for the planet: By simplifying access to financing for green technologies and services, the platform directly contributes to the decarbonization of the shipping industry, which is crucial for reducing global maritime emissions

⏭️ What's next: The portal is expected to drive further investments in greener maritime technologies, helping the EU achieve its climate objectives and fostering a sustainable and competitive shipping sector

💬 One quote: "The EU’s dedication to fostering a sustainable and competitive maritime sector is evident through this initiative.”

📈 One stat: Thirty-five banks, representing about 80% of global shipping finance, are signatories of the Poseidon Principles by 2024

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