$70 Million Goes Towards Cutting Emissions in Australian Shipping Facilities

The project will consider whether berthed ships can be connected and charged from the electrical grid.

A forklift unloads shipping containers from trucks at a storage facility located near Sydney Airport in Australia on Nov. 30, 2017. David Gray/Reuters

The Australian maritime sector is set to go green, fuelled by a significant $70 million (US$48 million) investment from the government-backed Clean Energy Finance Corporation (CEFC).

The new initiative aims to harness green finance to transform a traditionally hard-to-abate industry into a more sustainable player in the global economy.