The agreements will see US$509,000 in funding going to the three environmental initiatives. In the meantime, the foundation Project will undertake regional and global consultation workshops to design the key elements and framework of the global program and will maintain a focus on developing countries in order to facilitate the decarbonisation shift. The preparatory phase of IMO CARES is designed to identify various potential key stakeholders for the long-term program, including donors, regional maritime technology cooperation centres, various decarbonisation R&D centres, Global Industry Alliances and financial institutions. The preparatory project will lead to the design of the IMO CARES Program and will be executed by IMO's Department of Partnerships and Projects (DPP).įurthermore, the IMO CARES Project will build on and complement other ongoing work, including Green Voyage 2050, GHG-Smart Project, the Blue Solutions Project, the Finsmart and the NextGen initiative, which will be connected to various research & development (R&D) and innovation decarbonisation initiatives around the world, according to Jose Matheickal, DPP Chief. In particular, under the first agreement, around US$400,000 will be used to fund a 12-month preparatory phase of a new long-term IMO CARES initiative, which intends to accelerate green technologies and their deployment globally in order to facilitate blue economic growth in developing regions. The three agreements, signed on 28 September, include the three environmental initiatives Coordinated Actions to Reduce Emissions from Shipping (CARES) Project, GloFouling Project and GloLitter Project, amounting to US$509,000 in total.
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"Lowering emissions, reducing marine litter and tackling invasive aquatic species are vital to preserving our oceans, and IMO is committed to a global approach to environmental protection, with capacity building in developing countries to ensure that no Member State is left behind on this important journey," said IMO's Secretary-General Kitack Lim.
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The International Maritime Organization (IMO) has signed three partnership agreements with the Kingdom of Saudi Arabia to finance the preparation of a new global project aiming to eliminate emissions related to the shipping industry, as well as existing projects focused on biofouling and marine plastic litter.