Maersk Becomes First In The Industry To Receive SBTi Validation For Climate Targets

Maersk’s targets related to greenhouse gas emissions have finally been validated by the Science Based Targets initiative (abbreviated SBTi) to align with the 1.5-degree track that originated from the Paris Agreement. This is an industry first per SBTi’s brand-new Maritime Guidance, mentioned in an official release via Maersk.

While Maersk continues aiming at Net-Zero GHG emissions for the whole business in 2040 with significant milestones for 2030, the validated targets revolve around new specific as well as absolute targets to lower the emissions from Maersk’s operations and across the supply chains (covering scope 1, 2 as well as three emissions), the release stated further.

At Maersk, there is a strong responsibility to take action regarding the climate crisis, mentions Rabab Raafat Boulos, the COO of Maersk. The science-based targets initiative reflects the most excellent standard for corporate climate targets, and the organization is proud to have gotten the validation.

They are dedicated to doing their share to reach the targets but can’t do it alone. To succeed, they depend on and work with the ecosystem they are a part of, including suppliers, customers, industry peers, and regulators.

Importantly, there is also a need for regulations from the International Maritime Organization (abbreviated the IMO) to close the existing price gap between fossil fuels and fuels to ensure level-level playing. Nearly 60% of Maersk’s top 200 customers have reportedly committed to or set science-based targets, including the supply chains.

A Green Balance Mechanism for shipping is going to support their efforts for decarbonizing logistics supply chains as well as aiding the shipping industry to reach net-zero emissions, the release mentioned.

Reference: itln

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Source: Maritime Shipping News