EU and Dutch banks invest €300m on green shipping

Green investments for the European shipping market is to receive a €300 million (£265.7m) boost. Dutch bank ING and the European Investment Bank (EIB) are each providing €150 million (£132m) […]

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By Priyanka Shrestha

Green investments for the European shipping market is to receive a €300 million (£265.7m) boost.

Dutch bank ING and the European Investment Bank (EIB) are each providing €150 million (£132m) for projects with a “green innovation element” covering the construction of new vessels or retrofitting of existing ones.

It applies to both inland shipping and seagoing operators.

Statistics from the European Commission reveal maritime transport emits around 1,000 million tonnes of CO2 annually and is responsible for around 2.5% of global greenhouse gas emissions.