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Coronavirus slows down time frame for much-discussed CO2 fund

The industry's original plan for the billion dollar fund aimed at financing research into future fuel types has been overtaken by reality with the coronavirus outbreak. In the meantime, everyone must double their will to move forward, says John Butler, president and CEO of the World Shipping Council.

Photo: PR / Hamburg Süd

The coronavirus outbreak delays the original plan for the industry's own proposal for an R&D fund aimed at securing billions of dollars for research into future climate-neutral fuels.

In March, the IMO canceled the first meetings at the organization,and this has since then continued. This meant that a decisive meeting of the organization's Marine Environment Protection Committee, MEPC, that was scheduled for late March was postponed.

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