What is happening: Maersk have announced their plan to reach net zero carbon emissions by the year 2050.
Timeline: For this to be possible, the company will have to have carbon neutral vessels in a commercially viable state by 2030. By 2020, the new sulfur emissions standards will come in.
Shipping: Ships are responsible for a whopping 3% of total greenhouse gas emissions across the world. The technology to achieve carbon neutrality for ships is far harder to achieve than road vehicles, due to the sheer distance they cover.
What did Søren Toft, Chief Operating Officer at Maersk say: “The only possible way to achieve the so-much-needed decarbonisation in our industry is by fully transforming to new carbon neutral fuels and supply chains.”
What did Maersk say: “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.”