Maersk accelerates Net Zero emission targets to 2040 and sets 2030 targets

A.P. Moller – Maersk announced new aspiring emissions targets expected to align the company with the Net Zero criteria of the Science Based Targets initiative (SBTi) pathway to limit global warming to 1.5°C.

They include a societal commitment to act now and drive material impact in this decade, and a commitment to deliver net zero supply chains to customers by 2040. The targets go beyond previous efforts to reduce emissions related to the ocean fleet as they cover all direct and indirect emissions across the entire Maersk business.

“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,” says Soren Skou, CEO of A.P. Moller – Maersk.

Tangible near-term targets for 2030 are set to ensure significant progress on curbing direct Maersk emissions already in this decade.

These include a 50% reduction in emissions per transported container in the Maersk Ocean fleet and a 70% reduction in absolute emissions from fully controlled terminals. Depending on growth in the ocean business, this will lead to absolute emissions reductions between 35% and 50% from a 2020 baseline.

“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,” says Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands, A.P. Moller – Maersk.

As recommended by SBTi, over the decade Maersk will go above and beyond the 1.5°C-aligned targets and invest in building a portfolio of natural climate solutions that will result in around five million tonnes of CO2 savings per year by 2030.

To maximise progress towards net zero supply chains in 2040, ambitious 2030 targets for a range of green product offerings are introduced, adding to solutions including Maersk’s Emissions Dashboard and Maersk ECO Delivery.

They aim to reinforce Maersk as a leading provider of green supply chain solutions and cover ocean, air, contract logistics (warehouses and depots) and cold chain. These products will utilise green technologies and solutions to ensure that they provide real emission reductions within the supply chain.

Covering indirect emissions means the targets also address emissions from e.g., inland transport services and vessel building which are provided by third party suppliers. Tackling this challenge will require extensive data insights and close collaboration with local and regional suppliers of products and services across the Maersk business footprint.

Maersk’s 2030 targets include:

• Ocean: Around 50% reduction in greenhouse gas emissions intensity
• Terminals: Close to 70% absolute reduction of greenhouse gas emissions
• Natural Climate Solutions used above and beyond 1.5°C target to build a portfolio that generates around five million tons of CO2 savings per year by 2030
• Ocean: 25% of all cargo transported using green fuels
• Air: Minimum 30% of cargo transported using Sustainable Aviation Fuels (SAF)
• Contract logistics (warehouses and depots) and cold chain: Minimum 90% green operations
• Inland transportation: Industry leading green offering – targets will be set during 2022