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BA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING TGT: INVENTORY WATCHTGT: BIG EARNINGS MISSWMT: GENERAL MERCHANDISEWMT: AUTOMATIONWMT: MARGINS AND INVENTORYWMT: ECOMM LOSSESWMT: ECOMM BOOMWMT: RESILIENCEWMT: INVENTORY WATCH
BA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING TGT: INVENTORY WATCHTGT: BIG EARNINGS MISSWMT: GENERAL MERCHANDISEWMT: AUTOMATIONWMT: MARGINS AND INVENTORYWMT: ECOMM LOSSESWMT: ECOMM BOOMWMT: RESILIENCEWMT: INVENTORY WATCH
PRESS RELEASE
Florham Park, New Jersey – A.P. Moller – Maersk (Maersk) and Amazon have finalized a 2023-2024 agreement for the transport of 20,000 FFE containers using green biofuel through Maersk’s “ECO Delivery” ocean product offering. Maersk estimates this purchase will contribute to a reduction in 44,600 metric tons of CO2e vs standard bunker fuel, roughly equivalent to 50 million pounds of coal burned. This is the fourth consecutive year that Amazon and Maersk have arranged container shipping using low GHG fuel options.
“We’re proud to collaborate with Maersk, a Climate Pledge signatory and leader in shipping logistics, on actionable solutions to decarbonize maritime shipping,” said Adam Baker, Vice President of Global Transportation at Amazon. “We’re excited to have containers on Maersk’s first methanol-enabled feeder vessel and to continue using their biofuel.”
The ECO Delivery biofuel option offers emission reductions that enable immediate and externally verified GHG savings for customers, without compensatory measures like offsetting. This year, Amazon will benefit from a new feature of the ECO Delivery product which will be enabled by also using green methanol in addition to the bio diesel as a second green fuel* in the vessel fleet. ECO Delivery is using primary data for fuel consumption in the methodology to report emissions savings with greater precision, inclusive of other greenhouse gases in addition to the CO2. The new model also provides price certainty and stability and is de-linked from the fossil fuel market.
“Amazon’s record of securing sustainable shipping over the years, no matter the business climate, is testament to its contributions to building a better future. We share a common goal with Amazon to reduce our total GHG emissions to net zero by 2040. As cosigners of the Climate Pledge, we must constantly create new opportunities to make this a decade of action. Decarbonizing shipping is one significant step that is to be combined with many others to protect our future,” said Narin Phol, President North America, A.P. Moller – Maersk.
Co-founded by Global Optimism and Amazon, the Climate Pledge is powered by over 400 companies in 38 countries around the globe. The pledge is a commitment to reach net-zero carbon emissions by 2040. Signatories agree to 1.) Measure and report greenhouse gas emissions on a regular basis, 2.) Implement decarbonization strategies in line with the Paris Agreement, and 3.) Neutralize any remaining emissions with credible offsets.
* Maersk defines ’green fuels’ as fuels with low to very low GHG emissions over their life cycle compared to fossil fuels. Maersk green fuels and its supply chain are verified by the International Sustainability and Carbon Certification (ISCC) . The methodology for accounting emissions is based on GLEC (Global Logistics Emissions Council) and is certified by Smart Freight Center. We ensure auto-generated performance tracking of Maersk ECO Delivery shipments. Maersk ECO Delivery CO2e saving certificates will be issued. The method is audited by PwC in accordance with the International Standard of Assurance Engagements 3410 (ISAE 3410 – Assurance Engagements on Greenhouse Gas Statements), showing CO₂e savings for the scope of the Maersk ECO Delivery agreement.
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