Freight News, Sea

Ports call for green investment fund

[ November 2, 2021   //   ]

With the COP 26 global environment conference underway in Glasgow, the UK Major Ports Group (UKMPG) called on the Government to establish a dedicated ‘Green Ports Fund’ on 2 November.

 The fund would co-invest alongside industry in green assets and infrastructure which are technologically proven but currently unaffordable, delivering major emissions reductions. These would include, for example, infrastructure for electrically charging ships in ports and the new generation of electric and hydrogen powered port equipment.

Alongside the benefits of cleaner energy, the plan should also generate jobs and economic investment in coastal communities.

UKMPG chief executive Tim Morris said: “Ports are vital for a zero emissions future. They are already playing a big role today, both as key trade gateways but also as enablers for green energy. But to go further and faster we need the UK Government to replicate successful models we see elsewhere in the world and invest significantly alongside industry in solutions that can be implemented today.”

He added that the previous week’s Comprehensive Spending Review included more than £300 million for zero emissions transport transition and it was vital that ports and maritime get a substantial share of this. For example, implementing a Norway style scheme for coinvesting in shore power – the electrical charging of ships in ports – in the UK could require around £185 million.

UKMPG also launched its ‘UK Ports: Vital hubs for sustainability and growth’ document, an overview of the multifaceted role ports play in delivering a zero emissions future for the UK, at the COP 26 International Maritime Hub in Glasgow.