Maersk has also vowed to transport at least 30% of its air cargo using sustainable aviation fuels made from crops, food waste, landfill gases, and other low-carbon sources by 2030. But sustainable aviation fuel production met less than 1% of global jet fuel demand (PDF) in 2019, according to the International Air Transport Association.

While shipping lines’ sky-high pandemic profits won’t last forever, Maersk is spending now to expand into a diverse set of logistics businesses which may give it a reliable revenue stream to fund its climate ambitions. Some of its rivals, which have focused more narrowly on shipping, may not be able to keep up with Maersk’s aggressive climate spending. Any company that can find the financing to meet ambitious climate goals may also discover a competitive edge in a cutthroat shipping industry where carbon emissions are a key selling point.

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