GCMD releases white paper on maritime EET retrofits

The Global Centre for Maritime Decarbonisation (GCMD) released its latest whitepaper on maritime energy efficiency technologies (EET) retrofits.

According to GCMD, commercial barriers that are a result of business-as-usual operations in the industry are limiting the scaling of energy efficiency technologies in shipping.

It explored the data-financing gap that is plaguing EET adoption and how Pay-As-You-Save (PAYS) built upon shared-risk contractual agreements can stimulate third party investment into EET.

Paper examines data-financing gap that is plaguing EET adoption and how PAYS built upon shared-risk contractual agreements can stimulate third party investment into energy efficiency technologies.

According to the paper, PAYS is a financing model that has been successfully used in other sectors to fast-track the adoption of energy efficiency solutions.

For PAYS to be effectively applied in the maritime sector, a complete solution built on a shared risk approach is critical, one on which multi-party collaboration agreements among partners that span the entire value chain has to be developed.

In the GCMD-BCG survey, more than 50% of the survey respondents indicated PAYS as a viable pathway to encourage broader adoption of EETs.

To specifically enable PAYS in the maritime sector, three types of collaborative agreements must come together, namely agreements that specify the terms for technology installation, data validation, and data-driven financing.