The European Investment Bank (EIB) and Dutch financial institution ING are supporting green innovation in European shipping with a new EUR 300 million fund.
Sustainability is a key factor in the future of the cruise industry as consumer awareness of green issues grows and stricter regulation compliance increases. This, combined with impressive advances in technology and a genuine understanding amongst cruise operators of the importance of environmental sensitivity, brings a welcome injection of funding for sustainability measures.
Over the next three years, clients incorporating green elements in either the construction of new vessels or the retrofitting of existing vessels can apply for support. The programme applies to both inland shipping and seagoing operators. With both the ocean and river cruise industry in a state of unprecedented growth, the financial support to incentivise greener fleet renewal and incorporate more sustainable technology intends to project the industry on an environmentally harmonious trajectory.
According to the programme founders, “This agreement forms part of ING’s wider sustainability strategy, which aims to facilitate and finance society’s shift to sustainability – environmental, economic, and social. To this end, we are helping to develop and promote sustainable business models and explore how sustainable financing can help support energy transition and combat climate change.”