GCMD and ADB Partner to Tackle Maritime Emissions Through Green Finance

by Ship & Bunker News Team
Thursday May 8, 2025

The Global Centre for Maritime Decarbonisation (GCMD) has announced its first partnership with a multilateral development bank, signing a knowledge-sharing agreement with the Asian Development Bank (ADB) to accelerate green finance in shipping.

The partnership was unveiled during the launch of ADB's new Sustainable and Resilient Maritime Fund (SRMF) at its annual meeting in Milan, GCMD said in an emailed statement on Thursday.

The collaboration aims to address key barriers in financing low-carbon maritime solutions by combining GCMD's real-world pilot data with ADB's global investment expertise.

One focus area is the scaling of energy efficiency technologies (EETs), which reduce bunker fuel use, but face adoption hurdles due to uncertainty in performance verification.

GCMD is developing methodologies using onboard sensors to attribute fuel savings to specific technologies. This paves the way for the Pay-As-You-Save (PAYS) model, where investments are repaid through verified fuel savings - aligning incentives for owners and financiers alike.

"We believe that the Pay-As-You-Save (PAYS) model can uniquely accelerate and scale the adoption of these critical solutions," Professor Lynn Loo, CEO of GCMD, said.

"In this context, we value the opportunity to leverage ADB's extensive global network to drive meaningful progress, particularly in unlocking financing to support sustainable growth of the maritime industry."

Ship & Bunker News Team
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