A.P. Moller - Maersk has set out its net-zero carbon dioxide emissions target as it aims to accelerate the transition to carbon-neutral shipping.
The goal is to reach carbon neutrality by 2050. To do this, Maersk has called for strong industry involvement to help make carbon-neutral vessels commercially viable by 2030.
The shipping line added that there needs to be an acceleration of new innovations and the adoption of new technology.
"The only possible way to achieve decarbonisation in our industry is by fully transforming to new carbon neutral fuels and supply chains," said Søren Toft, chief operating officer at A.P. Moller - Maersk.
“The next five to ten years are going to be crucial. We will invest significant resources for innovation and fleet technology to improve the technical and financial viability of decarbonised solutions,” added Toft.
Over the last four years, Maersk said that it has invested approximately USD1 billion in developing energy efficient solutions. In 2019, Maersk is planning to initiate open and collaborative dialogue with all possible parties to tackle the issue together.