In an effort to promote environmentally friendly practices within the maritime industry, the Marine Department (MD) of Hong Kong has introduced the Green Incentive Scheme on 28 June 2024.
This scheme aims to reward Hong Kong registered ships with a gross tonnage of 5,000 and above that have achieved high Carbon Intensity Indicator (CII) ratings as per the international standards on decarbonization set by the International Maritime Organization (IMO).
Under this scheme, eligible ships with a valid “Statement of Compliance – Fuel Oil Consumption Reporting and Operational Carbon Intensity Rating” (SoC) indicating a CII rating of A or B for the years 2024 to 2026 may receive HK$20,000 for each corresponding year as specified in the SoC.
Furthermore, if a ship maintains a CII rating of A or B for all three years from 2024 to 2026, it may be entitled to a maximum incentive of HK$60,000.
The application period for this scheme is open from 28 June 2024 to 31 December 2026.
Reference:
MEPC.1-Circ.912 - Communication from Hong Kong, China (Secretariat).pdf (301.4 KB)