Climate Policy Engagement Analysis
Climate Policy Engagement Overview: CMA CGM is actively engaged with global and EU shipping climate policy with both positive and negative engagement in 2023-24. The company has positive top-line messaging on climate and supports a phase-out date for fossil-fuel powered ships, but also appears to have pushed to weaken some EU climate policies.
Top-line Messaging on Climate Policy: In its 2023 Sustainability report, published in June 2024, CMA CGM supported the International Maritime Organization’s (IMO) goal of net-zero CO2 emissions from international shipping by 2050. In a December 2023 joint statement, CMA CGM further supported GHG emissions reductions in line with 1.5 degrees and a robust regulatory framework at IMO level from 2027, alongside a global GHG pricing mechanism. In its 2023 Sustainability Report, published in June 2024, the company supported ambitious international standards for maritime and a global carbon price, but appeared to advocate for global measures over regional regulations.
Engagement with Climate-Related Regulations: In a December 2023 joint statement, CMA CGM supported a global goal-based marine fuel GHG intensity standard, while advocating for a compliance mechanism for all ships to ensure a level playing field.
In an October 2024 consultation response, CMA CGM advocated for fuels produced with carbon capture and storage to be exempt from the EU Emissions Trading Scheme.
Positioning on Energy Transition: Through the ‘New Energies’ Coalition, CMA CGM supported increased use of bio-based SAFs in the short-term, alongside a switch to synthetic fuels in the longer-term in a September 2024 report. In a December 2023 joint statement, CMA CGM advocated for policies to increase the uptake of ‘sustainable’ maritime fuels, alongside a phase-out date for vessels operating only on fossil fuels. In December 2023 ‘Key Policy Pillars’ publication, CMA CGM’s CEO, Rodolphe Saade, echoed support for a phase-out date for ships powered only by fossil fuels. Under the EU Industrial Carbon Management Strategy, CMA CGM supported scaling up carbon capture and storage to be stored underground or used as a feedstock in an August 2023 consultation response.
However, in a May 2023 consultation response CMA GCM urged for the list of strategic net-zero technologies to be dropped in favor of a ‘goals-based’ approach, lowering the ambition of the Net Zero Industry Act. In an October 2024 consultation response, CMA CGM was unsupportive of restrictions on low-carbon fuels produced from captured CO2, while supporting hydrogen produced using electricity sourced from nuclear power purchase agreements, under the EU Hydrogen and Gas Decarbonization Package Delegated Act. On its corporate website, accessed in December 2024, the company also appeared to support a long-term role for liquid natural gas in maritime.
*Industry Association Governance CMA CGM has partially disclosed its membership to industry associations in its 2023 Sustainability Report, published in June 2024. CMA CGM has not published a full audit of its alignment with its associations. A senior executive retains board level membership to the World Shipping Council’s (WSC), and CMA CGM is a member of the French Association of Large Companies (AFEP), Hydrogen Council and the European Union Chamber of Commerce in China. All of its industry associations have both positive and negative engagement with climate-related policy.