Mediterranean Shipping Company (MSC) and the Global Centre for Maritime Decarbonisation (GCMD) have announced the signing of a five-year Impact Partnership agreement.

The partners aim to help the maritime industry eliminate greenhouse gas (GHG) emissions by shaping standards for future fuels, financing innovative projects, and piloting low-carbon solutions.

MSC will provide cash contribution towards GCMD’s pooled resources for pilots and trials as an Impact Partner.

MSC will also make in-kind contributions through its participation in projects, including access to vessels, operational equipment, and other assets, as well as vessel operating data and evaluation reports so that its learnings can help inform GCMD’s future trials.

“Despite current economic uncertainties, decarbonising shipping will need liners – who are closest to customers willing to pay a green premium – to make hard commitments for the industry to progress towards International Maritime Organization’s 2030 and 2050 goals,” said Lynn Loo, CEO of GCMD.

“With MSC coming onboard as our newest Impact Partner, GCMD is now in a stronger position to drive decarbonisation solutions across the industry,” Loo added.

This partnership comes a year after GCMD signed a strategic partnership agreement with shipping line Hapag-Lloyd, to cooperate on efforts contributing to maritime decarbonisation.