Maersk becomes first shipping company to have its climate targets validated

Maersk is the first shipping company to have its climate targets validated by Science Based Targets initiative (SBTi). The validation puts Maersk in line with the 1.5-degree pathway from the Paris Agreement, an industry first under SBTi’s new Maritime Guidance.

The validated targets are “new specific and absolute targets to reduce emissions from Maersk’s own operations and across its supply chains (covering all scope 1, 2 and 3 emissions),” according to a press release.

“We congratulate Maersk on its SBTi accreditation and call on the company to  put its cargo vessels on a path to zero emissions by 2030,” Jim Ace, senior campaigner, Stand.earth, said. ”We applaud Maersk’s net-zero commitments, but the major shipper must also focus on truly getting its fleet to zero emissions.”  

Since Science Based Targets initiative represents the highest standard for corporate climate targets, Maersk, an integrated logistics company, said they are very proud to have obtained validation.

“These new targets are a proof-point that even as a company in a hard–to-abate sector, it is possible to adopt ambitious science-based targets and get them validated,” Morten Bo Christiansen, chairman of energy transition, A.P. Moller – Maersk, said. “We know that delivering on them will be a very difficult task, however, setting ambitious targets, both near- and long-term, is critical to our energy transition efforts as they drive action to secure material impact in this decade.”

Maersk climate targets aim to reach net zero emissions by 2040 across the entire business with new technologies, new vessels, and green fuels, according to a press release.

At Maersk, we feel a strong responsibility to take action in the climate crisis,” Rabab Raafat Boulos, chief operating officer, A.P. Moller – Maersk, said. “We are committed to do our share to reach these targets, but we cannot do it alone. To succeed, we are dependent on and working with the ecosystem that we are part of, including customers, suppliers, industry peers and regulators. Importantly, there is a need for global regulations from the International Maritime Organization (IMO) to close the price gap between fossil and green fuels to secure a level playing field.”