Energy Efficiency, GHG Emissions, Industrial - February 14, 2024
Maersk Targets Validated by SBTi
A.P. Moller - Maersk's (Maersk) GHG emissions targets have been validated by the Science Based Targets initiative (SBTi).
While the company continues to aim for net zero GHG emissions for the entire business in 2040 with significant milestones for 2030, the validated targets include 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).
Maersk’s validated near-term targets for 2030 include reducing absolute scope 1 GHG emissions 34.7% by 2030 from a 2022 base year and reducing absolute scope 3 GHG emissions 21.9% within the same timeframe. It also aims to increase annual sourcing of renewable electricity from 22.7% in 2022 to 100% by 2030.
“At Maersk, we feel a strong responsibility to take action in the climate crisis,” said Rabab Raafat Boulos Chief Operating Officer, A.P. Moller - Maersk, in a statement. “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."
When SBTi published the guidelines for the maritime transport sector in late 2022, Maersk submitted the near- and long-term targets to reach absolute reductions from a 2022 baseline.
Nearly 60% of Maersk’s top 200 customers have committed to or set science-based targets, including their supply chains.
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