The Asian Development Bank is rolling out Sustainable Resilient Maritime Fund to help Asia-Pacific ports cut emissions, adapt to climate risks, and embrace greener operations. The plan outlines funding options and ways industry players can take part.
Clean Air Asia reports that based on 2022 data, “15 of the top 20 largest container ports worldwide are in Asia. Most of these ports are from China, Singapore, South Korea, Malaysia, Taipei, China, Thailand, and the United Arab Emirates. The significant container volumes in these container ports make a strong argument for investigating and promoting emission reduction measures among Asian ports.”
Against this backdrop, the Asia Development Bank (ADB) pushes for green port. It defines a port as green “when it aims to reduce its ecological footprint and increase its adaptive capacity to environmental conditions and climate change. The transition to a green port will proactively identify and tackle the environmental and social impacts of its infrastructure and operations. Its main goals are to minimize risks, implement robust solutions, and strengthen resilience, fostering a sustainable environment.”
However, many developing countries in Asia and the Pacific currently lack access to the financing needed to meet maritime and port decarbonization or become a green port. The Global Maritime Forum estimates that halving shipping emissions by 2050 will require “$1.0 trillion–$1.4 trillion, or an average of $50 billion–$70 billion annually over 20 years”.
ADB, through Sustainable Resilient Maritime Fund (SRMF), aims to fill a significant funding gap for maritime decarbonization.
What is the Sustainable Resilient Maritime Fund (SRMF)?
The ADB has unveiled a new effort to drive maritime decarbonization through the creation of a Sustainable and Resilient Maritime Fund (SRMF). The initiative is designed to help ports across Asia and the Pacific reduce harmful emissions, lower their carbon footprint, and build resilience to climate change while remaining central to the region’s economic growth.
“Ports are at the heart of trade, growth, and resilience in Asia and the Pacific. As the region’s economies expand, ports must evolve not only as engines of connectivity and commerce, but also as enablers of sustainability and efficiency,” said R. Duncan McIntosh, Senior Regional Maritime Specialist at ADB.
The fund will support projects at three levels. Upstream support will focus on helping governments improve policy and regulation. Midstream activities will include feasibility studies, project design, and risk reduction measures. Downstream support will provide direct financial backing for projects such as clean fuel infrastructure, renewable energy systems, and resilience upgrades.
Key areas of focus include energy efficiency, clean energy and fuel adoption, climate resilience, waste and resource management, integrated water management, hinterland connectivity, and reducing pollution and nuisance around port communities. Examples of similar projects elsewhere show what is possible. The Port of Rotterdam has already transitioned to LED lighting, while Singapore and Rotterdam established what they call the “world’s longest green and digital shipping corridor”. The Port of Newcastle in Australia is planning a 40-megawatt hydrogen hub with support from the Australian Renewable Energy Agency.
Barriers to Implementation
The brief acknowledges that there are major barriers to implementation. These include insufficient funding and financing; poor policy and regulatory environment; inadequate technical capacity; and lack of stakeholder awareness.
Importantly, the initiative is not limited to governments alone. Private companies, port operators, service providers, and other industry stakeholders will be able to access the SRMF once established. This opens the door for partnerships and collaboration across the maritime sector.
The proposed fund is expected to start with around 1 billion dollars, “depending on interest from donors and their subsequent requirements.” The fund will be housed under the Ocean Resilience and Coastal Adaptation Facility, giving it access to a broad network of resources and expertise.
How the Maritime Industry Can Take Part
ADB is now engaging governments, industry, and development partners to finalize the fund’s structure and secure commitments. Capacity-building programs, seminars, and online knowledge-sharing platforms are also being planned to help ports understand how to participate.
As McIntosh emphasized, the path to green ports requires everyone’s involvement. Governments, private operators, and financial institutions all have a role to play in transforming Asia-Pacific ports into hubs of sustainability. He said, “I look forward to engaging with colleagues, governments, and industry partners on how we can accelerate the shift to greener ports and stronger maritime value chains across the region.”
By establishing the SRMF, ADB hopes to catalyze investment in sustainable port infrastructure, making maritime trade more climate-friendly and resilient while supporting regional growth.
