The Fund for Energy Efficiency Technologies (FEET), backed by AIM Horizon Investments and GCMD, has become the first fund to adopt the second edition of the Singapore-Asia Taxonomy for Sustainable Finance.
The revised taxonomy recognises qualifying vessel retrofits and energy efficiency technology installations that deliver measurable greenhouse gas emissions reductions, GCMD said in an emailed update today.
GCMD also announced that Lloyd’s Register (LR) completed an independent review of GCMD’s methodology for measuring fuel savings from wind-assisted propulsion systems.
The methodology draws on a four-month pilot aboard the Pacific Sentinel, operated by Eastern Pacific Shipping, during which GCMD collected 276 million data points to isolate fuel savings attributable to wind sails.
FEET offers up to 100% upfront financing for energy efficiency installations through a pay-as-you-save model, with repayments linked to verified fuel and regulatory savings.
