Maersk Sets Net Zero CO2 Emission Target by 2050
Maersk announces its goal to reach carbon neutrality by 2050 this week. To achieve this goal, carbon neutral vessels must be commercially viable by 2030, and an acceleration in new innovations and adaption of new technology is required, says the company.
Maersk's relative CO2 emissions have already been reduced by 46 percent compared to a 2007 baseline 2007, approximately nine percent more than the industry average.
“The only possible way to achieve the so-much-needed decarbonization in our industry is by fully transforming to new carbon neutral fuels and supply chains,” says Søren Toft, Chief Operating Officer at A.P. Moller - Maersk.
Maersk is putting its efforts towards solving problems specific to maritime transport, as it calls for different solutions than automotive, rail and aviation. The yet to come electric truck is expected to be able to carry maximum of two2 TEUs and is projected to run 800 kilometer per charging. In comparison, a container vessel carrying thousands of TEU sailing from Panama to Rotterdam makes a journey of around 8,800 kilometers. With short battery durability and no charging points along the route, innovative developments are imperative, says Maersk.
Given the 20-25-year life time of a vessel, it is now time to join forces and start developing the new type of vessels that will be crossing the seas in 2050, says Toft. “The next five to 10 years are going to be crucial. We will invest significant resources for innovation and fleet technology to improve the technical and financial viability of decarbonized solutions. Over the last four years, we have invested around $1 billion and engaged over 50 engineers each year in developing and deploying energy efficient solutions. Going forward we cannot do this alone,” he says.
Maersk hopes to generate a pull towards researchers, technology developers, investors, cargo owners and legislators that will activate strong industry involvement, co-development and sponsorship of sustainable solutions. In 2019, Maersk is planning to initiate open and collaborative dialogue with all possible parties. The aim, says the company, is to tackle together one of the most important issues in the world: climate change.