Company Profile: MaerskWe Mean Business coalition
Maersk is a Danish business conglomerate with activities in the transport, logistics and energy sectors, headquartered in Copenhagen, Denmark, with operations in 130 countries. Maersk has been the largest container ship and supply vessel operator in the world since 1996 and transports nearly one in five of the world’s seaborne containers. The company employs some 88,000 people across 130 countries, has annual revenues of $39 billion and its market cap is $1,159 billion.
- Maersk is committed to cutting carbon emissions to net-zero by 2050.
- Maersk is committed to setting a science-based target with the Science Based Targets initiative.
- Maersk is committed to a 60% relative reduction in CO2 emissions by 2030, against a 2008 baseline.
- Maersk aims to have carbon-neutral vessels commercially viable by 2030.
- Maersk’s CO2 emissions per container have been reduced by 46% since 2007 – 9% more than the industry average.
Cost savings through decarbonisation
- By replacing older vessels with new and more efficient ones – optimizing hull dimensions, hull shapes, propulsion systems and auxiliary systems – Maersk have designed and built vessels that perform 15% more efficiently than average vessels.
Decoupling growth from decarbonisation
- Maersk achieved decoupling of emissions from trade growth in 2017.
- In the last four years, Maersk invested around $1 billion and engaged over 50 engineers each year in developing and deploying energy efficient solutions.
- Maersk is committed to multiplying the benefits of trade. New targets include reducing complexity in global value chains; empowering small businesses to benefit from trade; and supporting reforms to level the playing field for inclusive global trade.
- Maersk is working in partnerships and investing in innovations to reduce food loss in the supply chain, with cold chains for transport, for example.
- Maersk works with Twill, an online digital shipping platform, to offer small businesses a simple way to place bookings and track shipments – helping them “leapfrog” into global trade thanks to digitization.
- As part of the Dutch Sustainable Growth Coalition, Maersk is piloting carbon neutral ship with support of H&M Group, which uses certified biofuel and saves 85% on fuel costs.
- Maersk recognises the need for innovation and collaboration. The target of net-zero emissions by 2050 is designed to inspire researchers, technology developers, investors and cargo owners to come together in co-development of sustainable solutions.
- Maersk used COP24 to announce its 2050 net-zero target, alongside other ambitious businesses.