CEFC invests $70m to help electrify and decarbonise maritime ports
The CEFC has announced a “landmark” investment to help decarbonise maritime ports in South Australia, focusing on the electrification of vehicles and equipment.
It will be the first CEFC direct finance in the Australian maritime sector, and also the first green financing of local container stevedoring operations.
Shipping is a major polluter, with an estimated global emissions of 706 million tonnes of CO2 each year, around 2% of global energy related emissions.
Australia’s own domestic maritime sector emitted around two million tonnes of greenhouse gas emissions in 2021-22.
Heavy transport as a whole accounts for around 9% of Australia’s total greenhouse gas emissions.
Initiatives include replacing light vehicles and vessels with electric and hybrid alternatives, the installation of onsite solar PV systems, and investigating the potential of connecting berthed ships to the grid.