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BIMCO and partners submit updated R&D fund proposal to the IMO
Published: 12 May 2022
A new submission to the International Maritime Organization (IMO) addressing outstanding concerns related to intellectual property rights (IPR) , strengthened R&D collaboration between developed and developing countries, and geographic representation in the Board of Directors governing the proposed decarbonisation fund has been submitted .
Addressing points raised during the session, the group of countries and industry organisations behind the proposed fund has submitted a concrete text to the IMO ahead of the upcoming MEPC 78 meeting in June.
The charter of the R&D fund is suggested to include clauses that ensure that intellectual property rights are guarded in the projects receiving financial support, while recognising that transparency and knowledge-sharing are critical to ensure success.
The importance and urgency of the establishment of an R&D fund is documented by the reference to a study outlining more than 260 R&D projects in need of funding to support improvement of the Technology Readiness Level (TRL) of zero-carbon technologies.
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MEPC 78-7-3 - Establishment of an IMRB and IMRF 0.2 MB
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