The latest scientific assessments leave no doubt that the world in general needs to embark on an all-encompassing transformation process away from the reliance on fossil fuels. This goes for shipping as well, and we have taken steps to respond to this need.
We are the largest ocean shipping company in the world, and by committing ourselves to be a leader in the eliminating fossil fuels in container shipping as well as dedicating our own resources to the needed innovation, we can help drive accelerated innovation efforts in the container shipping ecosystem.
What we do
As world trade and thereby shipping volumes continue to grow, efficiency improvements on the current fossil-based technology can only keep shipping emissions at current levels but not reduce them significantly or eliminate them.
We will continue to work on efficiency measures to continue to decouple growth in our business from our CO2-emission levels. We have invested substantially in efficiency measures for 10 years and have reduced our relative emissions by 41% compared to 2008. Yet, it is clear to us that efficiency is not enough to live up to the Paris Agreement’s ambition of keeping global warming below 1,5 degrees Celsius.
To achieve this goal, we must fully move to new carbon neutral fuels, and supply chains must fully eliminate fossil fuels. At A.P. Moller-Maersk, we have set ourselves the goal of reaching carbon neutrality in our own operations by 2050.
Given the 20-25-year life time of a vessel, it is already now time to join forces and start developing the new type of vessels that will be crossing the seas in 2050. The next 5-10 years are going to be crucial. We will invest significant resources in innovation and fleet technology to improve the technical and financial viability of decarbonised solutions.
But we cannot do this alone. Research & development is key to move the industry away from today’s fossil-based technology and by setting this ambitious target, Maersk hopes to generate a pull effect towards researchers, technology developers, investors, cargo owners and legislators that will activate strong industry involvement, co-development, and sponsorship of sustainable solutions that we are yet to see in the maritime industry.