bp joins Global Centre for Maritime Decarbonisation as a partner

Based in Singapore, GCMD was set up to help drive decarbonization of the maritime industry.

bp has joined the Global Centre for Maritime Decarbonisation (GCMD) as a strategic partner, which was marked by a partnership agreement ceremony in Singapore. GCMD was set up to help drive decarbonization of the maritime industry.

GCMD is based in Singapore – one of the world’s busiest ports. It was set up as a non-profit organization in August last year to help the maritime industry meet or exceed the International Maritime Organization’s (IMO) GHG emission reduction goals for 2030 and 2050.

It aims to achieve this by creating opportunities for cross-industry collaboration and sharing its projects’ outcomes, aimed at helping fuel the energy transition within the maritime industry. This partnership adds S$10 million (USD$7.4 million) in funding, giving GCMD’s efforts a further boost.

“A net zero future for the maritime sector demands industry collaboration, and GCMD is bringing to the forefront the conversations that matter most. 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,” said Carol Howle, bp’s executive vice president for trading & shipping.

bp trading & shipping (T&S) is one of the world’s leading energy trading houses. At any one time, about 300 ships are on the water for bp, enabling it to move around 240 million tonnes of product every year.