Norway has provided an additional NOK 40 million (USD 4.3. million) to the IMO-Norway GreenVoyage-2050 project, a project aiming at supporting greenhouse gas (GHG) reductions.
The new tranche follows the initial funding of NOK 10 million for the project, provided by Norway earlier this year.
Launched in May 2019, the GreenVoyage-2050 project is in line with the International Maritime Organization’s initial strategy for reducing greenhouse gas (GHG) emissions from shipping and supports the UN Sustainable Development Goal (SDG) 13 on climate action.
“Norway is very pleased to enhance our financial commitments to support IMO’s efforts to build capacity and to provide technical assistance to support the IMO initial GHG strategy,” Sveinung Oftedal, Specialist Director of the Norwegian Ministry of Climate and Environment, said after signing the agreement for additional funding with IMO Secretary-General Kitack Lim on November 13.
“We will continue our efforts to further support the GreenVoyage-2050 project, considering the importance of this project to achieve the goals of the IMO GHG strategy.”
As explained, the project will assist countries to implement legal, policy and institutional reforms, build capacity and initiate and promote global efforts to demonstrate and test technical solutions for reducing GHG emissions.
The IMO is currently in the process of selecting pioneer pilot countries, new pilot countries, partner countries, industry partners and strategic partners at national, regional and global levels.
GreenVoyage-2050 will run for an initial two-year period, with over 50 countries in 14 sub-regions across the globe expected to take part.