At the end of 2019 the shipping industry surprised the world by proposing a USD500 million per year global fund – dubbed International Maritime Research Fund (IMRF) – to finance research into climate solutions for the sector. On the face of it, this is a welcome addition to existing plans to clean up shipping. However, the timing and the public spin of the proposal left many wondering whether the IMRF is a Trojan Horse. I hope that this is not the case because part of the industry seems to be genuine about the need for such a fund to accelerate the deployment of carbon-free fuels. Let me explain our worries.
Source: transebvnews