Smaller developers of shipping decarbonisation technologies are struggling to secure funding despite bankers saying they are under increasing pressure to align their financing portfolios with greener loans.
Diane Gilpin, chief executive of Smart Green Shipping (SGS), which has developed a wind sail for bulk carriers, said she has spent the last 10 years trying to get financing.
"The funding gap we experience between feasibility and scale is really holding back the opportunity to decarbonise this industry," Gilpin said at the Ship Zero Conference in Glasgow, while the COP26 climate talks are underway.
