Maersk revises net zero emission target deadline to 2040

Shipping conglomerate A.P. Moller-Maersk has set new emission reduction goals for 2030 as milestones to reach on its path to net zero carbon emissions by 2040 - ten year ahead of its original net zero target.

PHOTO: By 2030, the company eyes 35-50% emission reduction from a 2020 baseline and will halve emissions per shipped container. A.P. Moller-Maersk

Maersk seeks to do this under the Science Based Targets initiative (SBTi), which allows companies to align their greenhouse (GHG) emission reduction goals with the Paris Agreement target of limiting temperature rise to 1.5°C.

SBTi measures go further than just capping emissions from Maerk's fleet, "as they cover all direct and indirect emissions across the entire Maersk business,” the company says.

By 2030, the company eyes 35-50% emissions reduction from a 2020 baseline through 50% cuts in emissions per shipped container, subject to “growth in the ocean business.”

The company plans to transport 25% of all ocean cargo using green fuels, and eyes 70% absolute emission reductions from its fully controlled terminals. It takes green fuels to mean fuels with low or very low GHG emissions on a life cycle basis, says Maersk.

Maersk says it plans to invest in "natural climate solutions", envisaging a portfolio that can cut its carbon dioxide emissions by nearly 5 million mt in per year by 2030.

It will set emission targets for its inland transportation by 2022.