After attending the launch of the Global Shippers Roundtable in Selangor on Tuesday (Sept 5), Transport Minister Anthony Loke said the ministry is proposing to the Finance Ministry to set up a soft loan fund under the Development Bank which is dedicated to providing aid to shipping operators in their bid to reduce carbon emission to meet the Euro standards.
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NewsTranscript
00:00 The maritime sector is given a lot of attention in our consultation session with the Ministry of Finance.
00:09 We also want the government to provide a loan under the Development Bank to operators or domestic shipping companies.
00:24 One of the main segments that we need to look at is that our ships must be more towards the west coast to cut down on gas emissions.
00:35 To cut down on gas emissions, they have to retrofit their engines.
00:39 This is a major investment.
00:42 The Ministry of Finance wants to provide a loan to these ship companies to retrofit their engines to reduce carbon emissions.
00:59 This is a very important agenda.
01:01 The sustainability agenda is a major issue for the maritime industry.
01:12 As mentioned by Tan Sri Sol, by 2026, European countries will be tightening their laws.
01:20 Whatever cargo we ship to the European market, it must be towards net zero. Our operations do not endanger the environment.
01:34 That is why it is important that we are more towards the green.
01:39 Green port, green maritime, green aviation, all of these are related to sustainability.
01:45 That is why there are many issues in this port related to the maritime sector.
01:50 In the aviation sector, they are developing SAF, Sustainable Air Fuel, to use more maritime oil that can be reused.
02:05 The same goes for international shipping.
02:08 International shipping is looking at renewable energy sources.
02:13 In the port sector, the port sector must be more towards the green.
02:17 That is why there must be a more automated crane that can reduce diesel usage.
02:26 All of these are directions that ensure that we are also towards carbon reduction.
02:33 This is very important in terms of penetrating the markets in the West.
02:39 Europe, America, and the companies that have tightened their climate change laws.
02:45 We must not be excluded.
02:48 We must take steps to ensure that we are not excluded from this international trend.
02:54 For more UN videos visit: www.un.org/webcast
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