Our climate is changing, and the scientific consensus is that the change is real and caused by human activity. The UN’s Intergovernmental Panel on Climate Change (IPCC) believes that global warming is largely attributable to an increase in the levels in CO2 and other greenhouse gasses in the Earth’s atmosphere. At Maersk we share this opinion.
All over the world, large volumes of CO2 and other greenhouse gases are being emitted, with increased global warming and other climate changes as a result. Perhaps the most dramatic evidence of this change is the fact that about half the Arctic summer ice has disappeared over the last 20 years.
As individuals, we all contribute to the emission of CO2, and so does industry. As a responsible group of businesses, Maersk not only recognises the risks associated with climate change, we are also reducing our carbon footprint and investigating relevant new business opportunities.
Eco-Efficiency
From a CO2 emissions perspective, shipping is one of the most climate-friendly ways to transport goods, despite the fact that our ships emit CO2. And although Maersk Oil is doing its part to meet the world’s demand for oil and gas, we realise that oil and gas production is energy intensive and emits CO2 as part of the process.
That is why we have made Eco-Efficiency a core strategy, with a strong focus on reducing the amount of energy we consume to reduce our CO2 emissions. Eco-Efficiency promotes the use of natural resources in the most efficient manner possible, with the least possible impact on the environment.
Reducing our carbon footprint involves making individual business activities as energy-efficient as possible. But we have found that carbon reduction initiatives often go hand in hand with financial benefits. The less fuel we use, the less CO2 we emit. It is both good for the environment – and for keeping costs down.
Some of the risks associated with climate change are physical, such as rising sea levels. Others, such as increased costs for carbon emissions, are linked to government regulations. Opportunities include making sure our ships have a low carbon footprint – not only to help the climate, but also to remain competitive. Additional opportunities involve ways to reduce CO2 emissions further via Carbon Capture and Storage, for instance.
Shipping
Globalisation requires the transportation of goods between countries. A Maersk container ship emits less CO2 per tonne of goods transported than transportation by train, lorry or plane. The greater the proportion of goods that are transported by containership, the better it is for the climate.
Despite this, worldwide shipping does contribute to CO2 emissions. That is why we’re improving the energy efficiency of our ships through better designs for engines, hulls and propellers, and through better utilisation of waste heat. We’re also investigating the suitability of using carbon-neutral biofuels for our ships.
Shipping is a global industry that really does require international regulation. Regional or local regulation carries the risk of creating unfair competition while failing to achieve reductions in CO2 emissions. That is why Maersk supports International Maritime Organization (IMO) efforts to institute a worldwide tax on bunker fuel.
Oil and gas
To limit CO2 emissions, society needs to use more sustainable forms of energy such as wind, solar and hydroelectric power. Yet we must recognise that fossil fuels (coal, oil and natural gas) will remain indispensable for many years to come. Maersk Oil is committed to producing oil and gas in an energy efficient manner, including reducing unnecessary flaring of associated gas.
We’re also investigating the use of our depleting oil and gas fields in the North Sea for Carbon Capture and Storage (CCS) projects. CCS involves capturing CO2 from point sources such as power plants, steel mills and refineries. First, the CO2 is separated via a pre-combustion or post-combustion process. Then, it is transported by pipeline or ship to an underground storage site – off shore, for instance – where it is injected into the ground and sequestered.
The International Energy Agency considers CCS to be one of the technologies that will enable society to reduce CO2 emissions over the next several decades.
Caring for Climate
At Maersk, we support the adoption of a worldwide agreement on reducing the causes of climate change. An international agreement, including mechanisms to place a price on CO2 emissions, will help drive technological and market developments that will lead to a low-carbon society.
As part of the UN Global Compact’s commitment to environmental protection, the UN Global Compact and UN Environmental Programme have prepared a statement entitled “Caring for Climate, the Business Leadership Platform”. We have signed up to Caring for Climate to show our commitment to addressing climate change and to promoting open, transparent reporting on our environmental performance.