Congresswoman Nanette Barragan (D-CA) introduced the Zero-Emission Vessel Innovation Act.
The legislation authorizes a $1 billion a year Zero Emission Vessel Innovation Fund within the Maritime Administration.
The fund would provide grants and low-interest loans to accelerate projects focused on zero-emission vessels, clean alternative fuel vessels that reduce ship emissions by at least 90%.
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The United Nations Framework Convention on Climate Change is setting up its new Green Climate Fund to “provide support to developing countries to limit or reduce greenhouse gas emissions.”