GCMD partners with the Asian Development Bank (ADB) to advance maritime decarbonisation through sustainable finance
SINGAPORE : GCMD is proud to announce a knowledge partnership with ADB, signed during the launch of its Sustainable and Resilient Maritime Fund (SRMF) at its annual meeting in Milan.
The partnership—GCMD’s first with a multilateral development bank —complements its diverse pool of centre-level partners. The partnership aims to advance green financing pathways that support a sustainable and resilient maritime sector by leveraging ADB’s strength in mobilising resources across its global network and GCMD’s expertise in addressing operational complexities through real-world pilot projects.
ADB’s Sustainable and Resilient Maritime Fund (SMRF)
Following ADB’s Maritime Decarbonisation Initiative launched at COP29 in Baku, which aims to promote a just transition towards sustainable and resilient maritime infrastructure, the bank is building on this momentum to launch SRMF. SRMF aims to enable a future-ready maritime transport system through these focus areas: invest in resilient port infrastructure, accelerate adoption of alternative fuels, close financing gaps, and foster regional policy harmonisation.
Accelerating the adoption of energy efficiency technologies (EETs)
By lowering fuel consumption, EETs are considered a “no-regrets approach” to reducing emissions in the maritime sector. Yet, EET adoption faces significant hurdles primarily arising from the challenges to accurately quantify fuel savings, which translates to an uncertainty in return on investment.
To address this gap, GCMD is currently developing and testing methodologies to validate fuel savings through the deployment of onboard sensor installations. By providing clear attribution of fuel savings to specific technologies, GCMD aims to implement Pay-As-You-Save (PAYS), a financing model proven in other sectors. Under PAYS, upfront investments in EETs can be repaid over time, with payments directly tied to verified fuel savings. This approach aligns stakeholder interests and fosters risk-and-reward sharing.
ADB and GCMD are partnering to combine their complementary strengths—exchanging knowledge from GCMD’s pilots and ADB’s financing expertise—to address barriers in green financing. By grounding green financing in verified emissions reduction data, the collaboration aims to build investor confidence, unlock capital for bankable, scalable decarbonisation solutions, and accelerate the widespread adoption of EETs in the maritime sector.