Integrated container logistics company A.P. Moller – Maersk announced today an acceleration of its carbon reduction targets, aiming to achieve net zero gas emissions in 2040 across entire business and all scopes, a decade ahead of its initial 2050 ambition, and has set near-term 2030 targets to ensure emissions reductions in this decade.
The company’s new targets also include a commitment to deliver net zero supply chain to customers by 2040. Maersk’s targets are expected to align the company with the net zero criteria of the Science Based Targets initiative (SBTi) 1.5 C pathway.
Supply chain decarbonization is emerging as a major focus for sustainability initiatives at companies globally, as efforts to address the climate impact of business increasingly shift to reducing emissions outside of companies’ direct control, or ‘Scope 3,’ which often constitute the majority of company emissions.
Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands, A.P. Moller – Maersk.
“Our updated targets and accelerated timelines reflect a very challenging, yet viable pathway to net zero which is driven by advances in technology and solutions. What is needed is a rapid scale-up which we will strive to achieve in close collaboration with customers and suppliers across the entire supply chain.”
The company’s 2030 emission reduction targets include a 50% reduction in emissions per transported container in the Maersk Ocean fleet, as well as a 70% reduction in absolute emissions from fully controlled terminals. According to Maersk, this can lead to absolute emissions reductions between 35% and 50%, from a 2020 baseline. Maersk will also invest in building a portfolio of natural climate solutions, resulting in approximately 5 million tons of CO2 savings per year by 2030.
To maximize progress towards net zero supply chains in 2040, the company has also set 2030 targets for a range of green product offerings. For ocean transportation, Maersk targets 25% of all cargo transported to be on ships using green fuels, and to have a minimum of 30% of cargo transported using sustainable aviation fuels (SAF). For Contract Logistics and Cold Chain businesses, the company is also targeting a minimum of 90% of operations utilizing fuels or energy that have low or very low greenhouse gas emissions on a life cycle basis.
The new goals follow a series of decarbonization-focused actions by the company over the past few months. In July of last year, the company announced a deal for the world’s first carbon-neutral methanol fueled container ship, followed by an order for 8 large methanol-powered ocean-going container vessels. In November, Maersk also announced the completion of its inaugural €500 million green bond offering, with proceeds aimed at financing the construction of its carbon-neutral methanol fleet.
Soren Skou, CEO of A.P. Moller – Maersk, said:
“As a global provider of end-to-end logistics services across all transport modes, it is a strategic imperative for Maersk to extend our net zero ambition to the total footprint of the business. The science is clear, we must act now to deliver significant progress in this decade. These very ambitious targets mark our commitment to society and to the many customers who call for net zero supply chains.”