AP Moller-Maersk has announced new emissions targets, 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.
These targets included 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.
According to the logistics group, the new 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," said Maersk CEO Soren Skou.
"The science is clear, we must act now to deliver significant progress in this decade," he outlined. "These very ambitious targets mark our commitment to society and to the many customers who call for net zero supply chains."
Maersk highlighted how tangible near-term targets for 2030 were set to ensure "significant progress" on curbing direct emissions already in this decade.
These included a 50 per cent reduction in emissions per transported container in the Maersk Ocean fleet and a 70 per cent reduction in absolute emissions from fully controlled terminals.
Depending on growth in the ocean business, this could lead to absolute emissions reductions between 35 per cent and 50 per cent from a 2020 baseline.
Challenging but viable pathway
"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," explained Henriette Hallberg Thygesen, CEO of fleet and strategic brands at Maersk. "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."
As recommended by SBTi, over the decade Maersk said that it would will go above and beyond the 1.5°C-aligned targets and invest in building a portfolio of natural climate solutions that would result in around 5m 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 will be introduced, adding to solutions including Maersk’s Emissions Dashboard and Maersk ECO Delivery.
These 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, Maersk noted.
These products will utilise green technologies and solutions to ensure that they provide real emission reductions within the supply chain.