The Fund for Energy Efficiency Technologies (FEET) has become the first fund to adopt the second edition of the Singapore-Asia Taxonomy for Sustainable Finance (SAT), according to an announcement by the Global Centre for Maritime Decarbonisation (GCMD) in Singapore on 11 November 2026.

The updated taxonomy was announced by the Singapore Sustainable Finance Association (SSFA), supported by the Monetary Authority of Singapore (MAS), during COP31 in Türkiye. It recognises ship retrofits and energy-saving technologies that can demonstrate measurable reductions in greenhouse gas emissions, providing a clearer framework for financing maritime decarbonisation projects.

FEET offers shipowners up to 100% upfront financing for energy efficiency technologies, including wind-assisted propulsion systems. Under its "pay-as-you-save" model, shipowners repay the financing based on verified fuel and regulatory cost savings rather than bearing the full installation cost upfront.

The fund is managed by AIM Horizon Investments, with GCMD serving as its decarbonisation advisor. It is supported by the Development Bank of Japan, DBS Bank and ING.

GCMD also announced that Lloyd’s Register (LR) has completed an independent review of its methodology for measuring fuel savings from wind-assisted propulsion systems.

The methodology was developed using operational data from a trial aboard Eastern Pacific Shipping’s Pacific Sentinel. Over four months, GCMD collected 276 million data points to assess fuel savings under real-world operating conditions.

LR concluded that the methodology aligns with relevant industry standards and current best practices. For FEET-financed projects, fuel savings will be independently verified and used to determine shipowners' payments.

Together, these developments aim to give shipowners and investors greater confidence in energy efficiency investments and encourage wider adoption of fuel-saving technologies across the shipping industry.