Maersk heads zero-carbon drive in shipping sector with $60 million research center

Worker is seen next to Maersk shipping containers at a logistics center near Tianjin por

FILE PHOTO: A worker is seen next to Maersk shipping containers at a logistics center near Tianjin port, in Tianjin, China December 12, 2019. REUTERS/Yilei Sun

June 25, 2020

By Nikolaj Skydsgaard

COPENHAGEN (Reuters) – The world’s largest container shipper, A.P. Moller-Maersk <MAERSKB.CO>, will team up with industry majors to set up a research center in Denmark with the aim of reducing carbon emissions in the shipping industry.

Denmark’s Maersk, which aims to be carbon-neutral by 2050, said on Thursday the research center would combine knowledge from industry, academia and regulators towards “decarbonizing” the industry by developing carbon-neutral fuel and technologies.

The shipping industry, which carries around 80% of global trade and accounts for around 3% of global carbon emissions, pledged last year to have ships and marine fuels with zero carbon emissions ready by 2030.

The move would be funded by Maersk’s majority owner, the A.P. Moller Foundation, which has donated 400 million Danish crowns ($60.36 million) towards building the Copenhagen-based research hub set to initially employ 100 people, Maersk said.

Denmark, which has one of the world’s most ambitious climate goals of cutting emissions by 70% by 2030, is home to renewable energy majors like wind farm developer Orsted <ORSTED.CO> and....

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