A.P. Moller – Maersk accelerates Net Zero emission targets to 2040 and sets milestone 2030 targets

A.P. Moller – Maersk (Maersk) announces 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.

2030 targets for significant absolute emissions reductions

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.

Roadmap to deliver net zero by 2040

– 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 – 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 tons of CO2 savings per year by 2030.

2030 targets to lead the industry on green offerings

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 an industry leading provider of green supply chain solutions and cover Ocean, Air, Contract Logistics (warehouses and depots) and Cold Chain businesses (see fact box below). 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.

Fact Box

The Maersk Decarbonisation Targets

2040
Net zero emissions across entire business and all scopes

• Will be aligned with the SBTi net zero criteria

2030
Commitments to customers and society to act now and have impact in this decade

• Emissions reduction aligned with SBTi 1.5°C pathway (Scope 1 and 2, baseline 2020):

– Ocean: ~50% reduction in greenhouse gas emissions intensity
– Terminals: ~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

• Industry leading green customer offerings across the supply chain

– 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 (Scope 1 and 2)
– Inland transportation: Industry leading green offering – targets will be set during 2022

*Green means fuels or energy that have low or very low greenhouse gas emissions on a life cycle basis

About the A.P. Moller – Maersk

A.P. Moller – Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As the global leader in shipping services, the company operates in 130 countries and employs around 95,000 people.