Regional Workshop: “The Role of the Banking Sector towards the Decarbonization of the Maritime Sector – Challenges and Opportunities in Latin America”

  EVENT HELD ON JULY 15 AND 16, 2024

The MTCC Latin America and the International Maritime University of Panama (UMIP) carried out the First Regional Workshop: “The Role of the Banking Sector towards the Decarbonization of the Maritime Sector – Challenges and Opportunities in Latin America”, on July 15 and 16 of 2024.

The Regional Workshop aimed to delve into the pivotal role of the banking sector in steering the maritime industry towards decarbonization. With the global push towards sustainability and environmental responsibility, it in turn explored the challenges and opportunities associated with the maritime sector's transition to a low-carbon and environmentally friendly future.

Objectives of the Regional Workshop:
•Understand the carbon footprint of the maritime industry
•Analyze the regulatory frameworks of maritime transport
•Evaluate the role of banking institutions in financing sustainable practices
•Promote innovation and technology in maritime decarbonization
•Shape sustainable investment strategies
•Promote collaboration and the creation of regional strategic alliances

This event was aimed at the Latin America Regional banking sector to address the main regulations related to the decarbonization of maritime transport and issues related to the sustainable development of the maritime industry, in support of the International Maritime Organization’s (IMO) Strategy 2023 for the Reduction of Greenhouse Gas (GHG) Emissions from Ships. It also aimed to highlight the important role of the banking sector in supporting decarbonization efforts by financing green technologies and alternative fuels, so that the banking sector becomes a catalyst and promoter for companies that are aligned with decarbonization solutions.

The event was composed of high-level presentations and panel discussions over two days, providing updates, perspectives and interesting debates from key national and international maritime and banking players and other stakeholders that are involved in the process of maritime decarbonization.

Participants shared knowledge, experiences, and meet with Maritime and Banking industry counterparts to explore funding opportunities for sustainable projects involving women leaders and the entire banking sector to learn more about the maritime industry. This Workshop is part of IMO's long-term strategy on resources mobilization for national and regional technical cooperation and capacity building activities.

In an era marked by environmental awareness and global sustainability goals, the maritime industry faces a crucial moment in addressing its environmental impact. Therefore, this is a comprehensive workshop designed to explore and discuss the crucial role the banking sector plays in facilitating the maritime industry's transition to a safer, more efficient, sustainable and decarbonised future.