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Maersk’s Climate Goals Approved by Experts

Maersk’s Climate Goals Approved by Experts

Maersk, a Danish shipping and logistics company, has achieved a remarkable feat. It has become the first to have its greenhouse gas emissions targets validated by the Science Based Targets initiative (SBTi) under the new Maritime Guidance.

What are the targets?

The targets were in line with the 1.5-degree pathway from the Paris Agreement, though Maersk is aiming for net-zero GHG emissions for its entire business by 2040. Those goals also include “significant milestones” for 2030, according to Maersk. The new validated targets include “new specific and absolute targets to reduce emissions from Maersk’s own operations and across its supply chains,” covering Scope 1, 2, and 3 emissions, the company said.

Why are the targets important?

The validated targets come after SBTi set its first science-based framework for companies in the maritime transport sector. The shipping industry accounts for more than 3% of global GHG emissions, according to the International Maritime Organization (IMO). SBTi published its maritime guidance in late 2022.

Maersk has since set out to implement the greenhouse gas strategy, leveraging green fuels and committing to science-based targets. The company is also focused on fuel efficiency. However, green fuels come with a higher cost, potentially creating a barrier to lower emissions.

What does Maersk say?

The boss of Maersk, Rabab Raafat Boulos, said that they want to do something about the climate crisis. He said that SBTi has the best standards for setting goals, and they are happy to meet them. He said that they need help from others, such as their customers, suppliers, and competitors. He also said that there should be some global laws from the IMO to make the prices of fuels fair for everyone.

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