Climate change
The world is facing a climate emergency. We see it as our obligation - as an industry leader and with the resources available to us - to do all we can to get to net zero operations as fast as possible and to help our customers decarbonise their global supply chain end to end.
Why action on climate change matters
As a key player in global logistics supply chains, which are responsible for 11%*of all global greenhouse gas (GHG) emissions, Maersk is committed to leading the decarbonisation of logistics and taking responsibility for being a part of the solution. Our approach is guided by the recognition that climate-related risks, and government and market actions to mitigate such, will have an impact on how we operate.
*MIT research based on IEA data and Global Logistics Emissions Council guidance (read more).
Our race to net zero
In 2023, Maersk became the first in the shipping industry to have its 2030 and 2040 targets validated by the Science Based Targets initiative (SBTi) in alignment with a 1.5°C and net zero pathway.
Maersk's climate commitments
1 Please refer to the Overall Net-Zero Target section for specific details on the science-based targets shown in this overview.
2 Following the maritime sectoral framework, the sub-targets for maritime operations cover emissions from fuels across Scope 1 and 3 (well-to-wake). Well-to-wake emissions refer to the sum of upstream (well-to-tank) and downstream (tank-to-wake) emissions.
3 Residual emissions will be neutralised through natural climate solutions in accordance with the Net Zero criteria of the Science Based Targets initiative.
Overall Net-Zero Target
Our ambition
Our new Science-based targets*
Aligned with a 1.5-degree pathway by 2030:
35% absolute reduction in total scope 1 emissions100% renewable electricity sourcing
22% absolute reduction in total scope 3 emissions
Net Zero by 2040:
96% absolute reduction in total scope 1 and 2 emissions90% absolute reduction in total scope 3 emissions
*The SBTi-validated targets are not directly connected to our current business segment sub-targets. They have a different baseline year (2022), reflecting that 2022 is a more representative baseline compared to the previous two years of pandemic and also enables us to take recent acquisitions into account in our baseline.
Highlights in 2023
Action on climate change
Priorities and actions
Growing the market for green solutions
Investing in green fuels and technologies
Stakeholder engagement targeting strong policies
Greenhouse gas (GHG) emissions in 2023
Maersk’s GHG emissions footprint 2023 (in 1,000 tonnes CO2e)
| Performance 2023 | Maersk's GHG emissions |
|---|---|
|
Performance 2023
79,462
(2022: 82,877) |
Maersk's GHG emissions
Total GHG emissions
Including scope 1, scope 2 (location-based), and scope 3 emissions. |
|
Performance 2023
34,138
(2022: 34,453) |
Maersk's GHG emissions
Scope 1 emissions – from fincially controlled own operation
Where 92% of the emissions come from our ocean operations related to fuel use. |
|
Performance 2023
386
(2022: 444) |
Maersk's GHG emissions
Scope 2 emissions – from generation of purchased electricity (location-based)
Where 56% of the emissions come from our terminals. |
|
Performance 2023
44,938
(2022: 47,980) |
Maersk's GHG emissions
Scope 3 emissions – created in the value chain as result of Maersk’s business activities The main drivers of these emissions are:
|
Featured highlights and case stories
Laura Mærsk
A hallmark moment for Maersk - and the shipping industry - was the arrival this year of Laura Mærsk, the world’s first methanol-enabled container vessel. The 2,100 TEU (Twenty-foot Equivalent Unit container) feeder vessel completed its entire maiden voyage from South Korea to its name-giving ceremony in Copenhagen on green methanol.
In 2023 we expanded our portfolio of methanol-enabled vessels on order with six additional vessels with a capacity of 9,000 TEU each, to be delivered in 2026 and 2027. In 2024, we will begin taking delivery of the first 7 large container vessels, each with a capacity of 16,000 TEU.
In addition to new methanol-enabled vessels, Maersk also announced in 2023 our intentions to convert an existing 14,000 TEU vessel from a traditional diesel engine to a dual-fuel methanol engine. This first-of-its-kind project will help demonstrate that new builds are no longer the only pathway to decarbonisation.
Climate related riskks
2023 was another year of weather extremes that disrupted global economies and affected millions of people worldwide.
Our business and operational efficiency can be directly impacted by such incidents, for example the drought of the Panama Canal, which prompted us to perform operational adjustments to our shipping transits. This serves as a clear indication of the urgency of addressing the physical impacts of climate change.
We are further impacted by complex transition risks and opportunities that unfold on the journey towards a green and just transition. Our approach to working with climate-related risks and opportunities aims to ensure a comprehensive risk management and strategic approach as a foundation for climate-resilient investments.
Regulatory drivers of climate progress
Regulation that creates a level playing field and encourages investments in vessels, fuel and infrastructure remains critical to achieving net zero supply chains.
In 2023, concrete progress continued through regional initiatives and globally with the International Maritime Organization (IMO) and through forums like the United Nations Climate Change Conference (COP28).
Maersk is committed to conducting all our policy outreach in alignment with the goal of limiting global temperature rise to 1.5°C. We actively engage with policymakers and stakeholders to advocate for regulations and policies that support this crucial objective, ensuring our business strategies are in harmony with global mitigation efforts. Read more about our policies and positions here.
Sustainability Report 2023
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