The FIN-SMARTВ initiative is being implemented by IMO with the European Bank for Reconstruction and Development (EBRD) and the World Bank (WB), to link recipient and donor countries, International Financial Institutions and private banks and industry representatives.

The other panellists were: Nancy Karigithu, Principal Secretary, State Department for Maritime and Shipping Affairs, Ministry of transport, Infrastructure, Housing, and Urban Development, Kenya Gianpiero Nacci, Director, Head of Climate Policy and Delivery, Industry and Infrastructure, EBRD and Alexandre Amedjian, Head of Shipping Finance, Europe, Middle East and the Americas, Societe Generale. 'If we don't step up already now with this investment and continued pilot projects then we will be too late when the regulatory framework is fully fixed,' she said. Additional regulatory measures could be adopted, but financial stakeholders should not wait for this to happen, Ms. IMO has set the policy framework for decarbonization, with mandatory energy efficiency measures already adopted and a revised GHG strategyВ set to be adopted in 2023. Importantly, investment in technology development needs to ensure that research and development in the global north is shared with knowledge, research and development hubs of the global south.

Now, these pilots needed to be scaled up - and this needs investment from international finance institutions. IMO's Gyorgyi Gurban said that pilots and trials of new technologies for shipping's decarbonization were promising. This message was highlighted during a panel debate at the World Oceans SummitВ (1 March) on financing shipping decarbonization. Maritime decarbonization needs financial instruments вЂ“ but these need to take into account the needs of developing countries, to ensure no one is left behind.

Imo smart search support