Maersk is on par
DANISH shipping and logistics company, Maersk’s greenhouse gas emissions targets have been validated by the Science Based Targets initiative (SBTi) to be in line with the 1.5-degree pathway from the Paris Agreement.
This reportedly marks an industry first under SBTi’s new Maritime Guidance.
“At Maersk, we feel a strong responsibility to take action in the climate crisis,” Chief Operating Officer Rabab Raafat Boulos said.
“The Science Based Targets initiative represents the highest standard for corporate climate targets, and we are very proud to have obtained validation. 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,” Boulos added.
Since 2019, Maersk has been committed to setting climate targets in line with science and guidance from SBTi, a widely recognized and adopted voluntary framework for corporate climate targets.
“These new targets are a proofpoint that even as a company in a hard–to-abate sector, it is possible to adopt ambitious science-based targets and get them validated,” Head of Energy Transition Morten Bo Christiansen said.
When SBTi published the guidelines for the maritime transport sector in late 2022, Maersk subsequently submitted the near- and long-term targets to reach absolute reductions from a 2022 baseline.
In the 2023 Sustainability Report, Maersk reports on its existing climate targets. From 2024, Maersk will commence reporting on the new SBTi validated targets.