CNA CGM & Bpifrance Launch €200m Energy Transition Fund

A CMA CGM cargo ship
Updated Published

CMA CGM, a French shipping company, along with the French public investment bank Bpifrance, have announced the creation of a €200 million ($214.5 million) fund dedicated to advancing the energy transition within the French maritime sector.

Out of the total €200 million, €20 million will be allocated to aid the decarbonization of French shipping companies' fleets. Additionally, €110 million and €50 million will be used for grants and equity investments aimed at maritime decarbonization projects. The final €20 million is designated for the development of sustainable maritime technologies.

“This unique initiative showcases our unwavering support for the industry’s transformation, contributing to a cleaner tomorrow for oceans around the globe and fueling the journey to decarbonization,” stated the Marseille-based company.

This fund is a segment of CMA CGM's broader $1.5 billion PULSE energy initiative, which targets decarbonization across various sectors including shipping, tourism and cruising, fishing and seafood products, infrastructure, naval and nautical industries, and renewable energy.

Launched in September 2022 by Rodolphe Saadé, the PULSE fund is a five-year project aimed at accelerating CMA CGM’s commitment to energy transition with the goal of achieving net zero carbon emissions by 2050.