Moller Maersk (Maersk)

InfluenceMap Score
B-
Performance Band
72%
Organisation Score
58%
Relationship Score
Sector:
Transportation
Head​quarters:
Copenhagen, Denmark
Brands and Associated Companies:
Maersk Line, Damco, Seago Line, Safmarine
Official Web Site:
Wikipedia:

Climate Lobbying Overview: Moller Maersk (Maersk) appears to have increasingly positive engagement with climate regulation for shipping at a global level, with mixed engagement with EU-level climate policy in 2021-22. Maersk appears supportive of Paris-aligned climate action in its top-line messaging, and has advocated for an ambitious global climate strategy for shipping at the International Maritime Organization (IMO) in 2021-22. However, it appears to oppose some stringent regional climate measures to regulate shipping, such as the full inclusion of international shipping in the EU Emissions Trading System (EU ETS).

Top-line Messaging on Climate Policy: Maersk has mostly positive top-line communications on climate change in 2021-22. In a June 2022 sustainability insight, Maersk stated support for a 1.5°C temperature goal, and in 2021 CEO, Søren Skou signed a joint letter calling for net-zero global GHG emissions by 2050. In April 2021, Maersk further appeared supportive of US calls for a net-zero shipping emissions 2050 target at the IMO, with a global IMO net-zero 2050 target further supported in an April 2022 Maersk position paper. A July 2021 CEO’s Alliance, signed by Maersk CEO, Søren Skou, further advocated for government regulation in response to climate change and expressed support for energy policies from “leading nations…even if such measures are inherently regional in their reach” in a September 2022 Offshore Energy article. Furthermore, in a video released on Twitter in September 2022, Maersk described the Inflation Reduction Act as a “bold move and potential game changer”. In it’s 2021 Sustainability report, published in February 2022, and April 2022 position paper, Maersk appeared to advocate for more ambitious global climate policy, while expressing an unclear position on EU policies. However, in a February 2021 consultation, it appeared to support carbon pricing over other forms of climate regulation in the EU.

Engagement with Climate-Related Regulations: Maersk appears to have mixed engagement with EU climate-related regulations. In the EU, a February 2021 consultation response called for the EU ETS to be limited to intra-EEA scope. In 2021 Maersk’s head of regulatory affairs stated support for the initial inclusion of intra-EEA shipping journeys in the EU ETS in 2023-2025 until the introduction of a global shipping carbon levy. In a July 2021 LinkedIn post, following the release of the Fit for 55 package, Maersk CEO Søren Skou stated that the scope of the EU ETS should only be expanded in 2025 "if the IMO has not delivered". In an April 2022 position paper, Maersk appeared unsupportive of extending the EU ETS to half of emissions from voyages arriving/departing from an EU port, advocating for it to be restricted to intra-EU journeys only, while more positively supporting the inclusion of all greenhouse gas emissions (not just CO2) in the EU ETS. This position appears to be echoed in a July 2022 press release.

Maersk appears to have mixed engagement on the EU’s FuelEU proposal, advocating in an April 2022 position paper for increased support for RFNBOs and a 100% 2050 GHG emissions intensity target, while appearing to advocate for the targets be limited to intra-EU voyages only. However, according to a September 2022 Offshore Energy article, Maersk urged Congress to pass the US Clean Shipping Act.

In a 2021 EU consultation response, Maersk further stated support for a higher overall 2030 renewable energy target, and a 14% 2030 EU renewable energy in transport target. In April 2021, Maersk, as part of the Transform to Net Zero initiative, also stated support for a 50% US GHG emissions reduction target for 2030. In a November 2022 joint letter, Maersk called for “robust interim targets for emissions reductions by 2030 and 2040” to be set through the IMO.

Maersk stated support for a Global Fuel Standard to be introduced by the International Maritime Organization (IMO) in an April 2022 position paper, alongside suggesting support for a more ambitious EEXI energy efficiency legislation at the IMO.

Positioning on Energy Transition: Regarding the energy transition, Maersk in 2021-22 has consistently promoted the use of green ammonia and renewable e-methanol over LNG for shipping. In April 2021, Maersk’s CEO, Søren Skou, commented to the Wall Street Journal that “we don’t believe that LNG will play a big role as a transition fuel because it’s still a fossil fuel”, with another Maersk spokesperson in May 2021 arguing that “it is borderline greenwashing to call LNG a transition fuel towards the decarbonisation of shipping”. Similarly, Maersk's head of decarbonization criticized oil companies in November 2022 for holding back the clean energy transition by not supplying enough green methanol in a Financial Times interview. Furthermore, a November 2022 joint letter, signed by Maersk, supported infrastructure and investments to promote green hydrogen in maritime and advocated for a global 5% zero-emissions fuel target by 2030 through the IMO.

Maersk has consistently expressed support for a global fuel tax on shipping in 2021-22. In June 2021 Maersk announced support for a global carbon tax on shipping fuel starting at $50 in 2025 and ramping up to $150 in subsequent years, further re-iterating its support for a $150 tax in an April 2022 position paper. In June 2021, Maersk CEO, Søren Skou also signed a joint letter advocating to "eliminate fossil fuel subsidies" globally. In a LinkedIn post on November 2021, Maersk CEO Søren Skou called for the IMO to adopt “a drop-dead date to mark a future deadline for the building of fossil fueled ships”, with a phase out date for newly produced fossil-powered ships "sometime in the coming decade", this position was further supported in a Maersk April 2022 position paper.

Industry Association Governance: In April 2022, Maersk published its first review of its industry association memberships and their alignment on climate change. Maersk did not identify any areas of misalignment with its industry associations, but appeared to have left the board of the International Chamber of Shipping (ICS) in June 2022 as a result of this review. A senior executive from Maersk is a board member of the World Shipping Council which has mixed engagement on global and EU climate policy for shipping. Maersk's CEO is also a member of the European Roundtable for Industry (ERT), which has mixed but increasing positive top-line engagement on EU climate regulations.

InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q4 2022.

A detailed assessment of the company's corporate review on climate policy engagement can be found on InfluenceMap's CA100+ Investor Hub here.

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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
54%
 
54%
 
61%
 
61%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.