Date: 2024-07-17 Page is: DBtxt003.php txt00025874
COMPANIES
CMA-CGM
CMA-CGM-Pulse-Fund-for-Energies
CMA-CGM
CMA-CGM-Pulse-Fund-for-Energies
Original article: https://www.cmacgm-group.com/en/fund-for-energies
Peter Burgess COMMENTARY
Peter Burgess
In September 2022, Rodolphe Saadé announced the creation of PULSE, CMA CGM Energy Fund, with a USD 1.5 billion budget over 5 years to accelerate the decarbonization of all the sea, land, air transportation and logistics activities worldwide. The Fund dovetails with the Group’s target of reaching Net Zero carbon by 2050 for all its operations.CMA CGM - Fund for Energies ... PULSE is structured around four lines of focus.
'The CMA CGM Group has been acting to protect the environment for many years. It is at the heart of my convictions and of our strategy. However, in the face of the climate emergency it is our duty to do more and accelerate our actions. This fund will enable us to make substantial investments in innovative projects to decarbonize our business. We have allocated the resources needed to accelerate our energy transition and that of the entire shipping and logistics industry.'
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group
#1 Support the production of sustainable fuels for our ships and planes
The Group’s decarbonization journey started years ago and gained pace in 2017 with the pioneer decision to order LNG dual fuel vessels, that can be propelled by biomethane and e-methane. The first methanol-powered ships were ordered in 2023, and research is now focusing on ammonia as a potential fuel source of the future.
PULSE helps drive forward the emergence of industrial-scale production facilities for these alternative fuels to secure volumes in line with the Group’s needs, in partnership with major industrial groups investment funds and promising startups.
In June 2022, CMA CGM and ENGIE co-invested in the Salamander project. Located in Le Havre, the project will produce 200,000 tons of biomethane per year by 2030.
#ENGIE-cma-cgm-biomethane
#2 Accelerate the decarbonization of port terminals, warehouses and onshore vehicule fleets
The CMA CGM Group operates more than 700 warehouses and 50 port terminals, for which it has committed to generate enough carbon-free electricity (wind, solar, biomass-fueled, hydrogen-fueled) to cover 100% of their needs.
To that intend, PULSE is supporting the implementation of waste-to-power factories in port terminals. Similarly, it recently acquired a shareholding in Earthwake, a startup that converts plastic waste into fuel. The Fund is also investing in hybrid and bioethanol-powered straddle carriers with initial projects in France (Port of Fos-sur-Mer and Port of Bordeaux) and Malta.
Besides, 1.8 million sqm of photovoltaic panels will be installed on all warehouses operated by CEVA Logistics, a CMA CGM subsidiary.
A transition plan for the Group’s truck fleets is also ongoing, with a particular focus on electrifying CEVA Logistics trucks and introduction of its first hydrogen-powered trucks will be the plan’s main focus.
#thailand-decathlon-ceva-partnership-cma-cgm
#3 Support cutting edge innovation
PULSE is helping to select and launch innovative projects that aim to roll back technological barriers. Innovation is central to the Group’s decarbonization journey.
In February 2020, the Group joined forces with Energy Observer to test hydrogen as a potential source of energy for transport & logistics.
The Group acquired a stake in Neoline, a prototype sail-powered cargo ship set to serve transatlantic routes by beginning of 2025.
PULSE also supports the Group’s in-house R&D team, who continues to optimize the design and propulsion of large container ships to reduce their fuel use, while developing increasingly effective solutions to help make maritime, overland and air freight more energy efficient.
Innovation & digitalisation Energy Observer Ship CMA CMGM
#4 Curb CMA CGM offices'energy footprint and encourage sustainable mobility solutions for staff members
The Group's 2050 Net Zero target includes support activities, therefore the energy consumed in the office buildings and by employees worldwide.
PULSE supports a major energy management plan implemented by the Group in all office buildings in order to reduce energy consumption by 10% within 2025.
Investments aim to improve the energy efficiency of equipment (insulation, automation, renovation) and to diversify our source of energy (solar panels, sea water loop).
The plan encompasses alternative mobility solutions for both commuting and business travel – carpooling, electric bikes and scooters - while improving the work-from-home systems to avoid unnecessary travel.
#velo-cma-cgm
A fund supported by a USD 1.5 billion budget and a dedicated team
The Fund is backed by a USD 1.5 billion budget. Since December 2022, it has been administered by a dedicated team bringing together some of the Group’s most talented engineers, financial analysts and project managers. Operating as a cross-functional organization covering all the Group’s operations and divisions, it will guide the Group's overall strategy towards developing low-carbon energy solutions and accelerating their implementation.
A fund at the heart of an innovation ecosystem
Innovation is one of the Group’s key levers in its road to Net Zero 2050. PULSE aims to support an ecosystem of start-ups, R&D projects and a vast array of innovative stakeholders and next-generation tools, to make innovative eco-friendly solutions widely available to all. PULSE teams work closely with Tangram (training and innovation center), ZEBOX (startup incubator) and CMA CGM Venture.
The Group commits to a more sustainable French shipping industry
As announced in November 2022 at the Assises de l’économie de la mer (French blue economy conference) by Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, a €200 million allocation from PULSE will go to startups and businesses developing practical solutions that accelerate the decarbonization of the shipping industry in mainland and overseas France. Bpifrance, an organization renowned for its expertise in financing businesses and possessing extensive coverage of France through its network of 50 locations, has been entrusted with management of the Fund.