Maersk Joins Global Brands in Launching Net Zero Global Initiative
A.P. Moller – Maersk joined with eight other leading global companies in launching a new initiative to accelerate the transition to a net zero global economy. The initiative, known as Transform to Net Zero, the new initiative intends to develop and deliver research, guidance, and implementable roadmaps to enable all businesses to achieve net zero emissions.
“Over the past decade, many businesses have committed to net zero targets. It is now time to accelerate the actions needed to achieve this essential goal,” said Aron Cramer, President and CEO of BSR, (Business for Social Responsibility) a global nonprofit organization focused on sustainability which will lead this initiative. “Our window for staying under 1.5 degrees of warming is closing, and fast. We are now in a decisive decade, in which we must urgently decarbonize the economy, if we are to stave off the worst impacts of climate change. That’s why Transform to Net Zero is so important. More than just setting a high bar for inspiration, Transform to Net Zero will provide companies with an actionable roadmap enabling them to transform their businesses to thrive in and shape a net zero economy.”
In announcing the formation of this new program, Transform to Net Zero declared that it will focus on enabling the business transformation needed to achieve net zero emissions no later than 2050, in addition to driving broader change with a focus on policy, innovation, and finance. The outputs of the initiative will be widely available to all, though additional companies may join. They intend to complete the work by 2025.
“A.P. Moller - Maersk is committed to a carbon-neutral future of transport and logistics,” said Søren Skou, CEO of A.P. Moller – Maersk. “To contribute to the Paris agreement’s goal, we announced our ambition of having net-zero CO2 emissions by 2050 back in 2018. Since then we have taken several concrete actions to decarbonize the industry. The overall target of keeping global warming below 1.5 degrees can only be reached through strong alliances across sectors and businesses. We are therefore happy to join Microsoft and other global companies in the Transform to Net Zero initiative.”
The announcement said work will be led by nine guiding principles focusing on transformation. The companies agreed that the effort will be led by since and best practice data and methods, seeking to leverage existing efforts to develop strong governance and oversight at the highest level of companies to achieve net zero, including through developing innovative products, services, and business models.
The initiative recognizes that achieving net zero requires emissions reductions across the entire value chain, including the impact of products and services and supply chain. Therefore the companies are committing to invest in and accelerate innovation to achieve net zero transformation, including partnering with others. The efforts will also require advancing public policy that enables and accelerates progress towards net zero, including engagement with bodies such as trade associations.
The participants agreed that marginalized groups and low-income communities bear the greatest impacts of climate change and as such they will help enable conditions needed to achieve effective, just, and sustainable climate solutions for people of all gender, race, or skills. Finally, they are also committing to transparency and accountability through public reporting and disclosure on progress towards the net zero transformation.
In addition to A.P. Moller - Maersk, the founding members of Transform to Net Zero include other globally recognized brands: Danone, Mercedes-Benz AG, Microsoft Corp., Natura &Co, NIKE, Inc., Starbucks, Unilever, and Wipro, as well as Environmental Defense Fund (EDF). The initiative is supported by BSR, which is serving as the secretariat of Transform to Net Zero.