Maersk commits to net zero steel by 2050

It has joined the SteelZero initiative

Net Hero Podcast

A.P. Moller Maersk has joined the SteelZero initiative, committing to only buy and stock entirely net zero steel by 2050 in the process.

When businesses sign up to the SteelZero climate group they make a pledge to accelerate the steel industry’s journey to net zero, addressing their own impacts on the production or supply chain.

Most of Maersk’s 700+ ships are estimated to be recycled within the next decade, with steel making up around 90% of each vessel’s weight.

Maersk will now collaborate with other members of SteelZero to develop a policy framework for the sustainable sourcing and use of steel.

Palle Laursen, Chief Technical Officer at Maersk, said: “Global ship recycling volumes are projected to nearly double by 2028 and quadruple by 2033. Recycled steel will progressively be recognised as a viable raw material for steel consumers with net zero emissions targets.”