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Ashurst, GCMD to jointly boost shipping’s decarbonisation agenda

Singapore-based Global Centre for Maritime Decarbonisation (GCMD) and England-based law firm Ashurst have formalised their partnership by signing a coalition partnership agreement, committing to a long-term collaboration to accelerate the maritime industry’s decarbonisation efforts.

Through this partnership, Ashurst and GCMD will leverage each other’s domain expertise and exchange information, in order to identify opportunities and deliver pilot projects.

“We are glad Ashurst has come onboard as GCMD’s coalition partner. As a non-profit organisation, GCMD is pleased to team up with Ashurst, who is providing pro bono legal services to help GCMD advance the decarbonisation agenda in the maritime sector,” Lynn Loo, CEO of the Global Centre for Maritime Decarbonisation, said.

“The shipping industry is a significant contributor to global climate issues. We are delighted to support GCMD, whose aims are to shape industry standards and identify solutions for the maritime industry, in order to encourage the reduction of cardon emissions and contribute to a more sustainable and resilient future,” Ashurst’s global ESG and sustainability partner Anna-Marie Slot added.

GCMD was set up on 1 August 2021 as a non-profit organisation with an initial investment of S$120 million from the Maritime and Port Authority of Singapore (MPA) and six founding partners, namely BHP, BW Group, Eastern Pacific Shipping, Foundation Det Norske Veritas, Ocean Network Express and Sembcorp Marine. ​

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Strategically located in Singapore, the world’s largest bunkering hub and second largest container port, GCMD aims to help the maritime industry eliminate GHG emissions by shaping standards, deploying solutions, financing projects, and fostering collaboration across sectors.