The new net zero target cuts 10 years off the group's previous 2050 target, and brings it further ahead of the current IMO 2050 ambition to reduce total annual emissions from shipping by at least 50 per cent compared to 2008 levels, reports Colchester's Seatrade Maritime News.

Maersk has committed to provide net zero supply chains to customers by 2040, and its targets cover all direct and indirect emissions across Maersk's businesses. Indirect emissions include vessel building and inland transportation carried out by third party suppliers.

Maersk expects its emissions targets will align the company with the Net Zero criteria of the Science Based Targets initiative (SBTi) pathway to limit global warming to 1.5 degrees Centigrade.

The Danish shipping company will follow SBTi's recommendation during this decade "to go above and beyond the 1.5 degree Centigrade-aligned targets and invest in building a portfolio of natural climate solutions that will result in around five million tons of CO2 savings per year by 2030."

Milestone targets have been set for 2030 to ensure progress this decade, including cutting emissions per transported container by 50 per cent in the ocean fleet, and a 70 per cent absolute reduction of greenhouse gases in its fully-controlled terminals. Absolute emission reductions from the ocean fleet will depend on fleet growth, but will range from 35 -50 per cent from 2020 levels, said Maersk.