Maersk secures $5b sustainability credit

A.P. Moller – Maersk has secured a new sustainability-linked revolving credit facility of US $5.0b.

In 2018 Maersk announced its commitment to becoming carbon neutral by 2050. The new finance facility affirms Maersk’s efforts to drive sustainability into its operations and supply chains.

Henriette Hallberg Thygesen, chief executive officer, fleet and strategic brands, A.P. Moller – Maersk, commented: We have received strong support from our global relationship banks. The facility was substantially oversubscribed, and we are pleased with the terms and conditions of the new facility. With the new facility we have extended the maturity profile of our finance commitments, while aligning with our sustainability ones,”

The credit margin under the facility will be adjusted based on Maersk’s progress to meet its target of reducing CO2 emissions per cargo moved by 60 percent by 2030, which is significantly more ambitious than the IMO target of 40 percent by 2030 (all 2008 baseline).

Hallberg Thygesen, added: “We are determined to reach our ultimate target of becoming fully carbon neutral by 2050, and this agreement serves as another enabler for us to deliver on that ambition. Given the lifespan of our fleet, we need to find new and sustainable solutions to propel our vessels within the next 10 years. To realize this ambitious commitment, we are partnering with researchers, regulators, technology developers, customers, energy providers – and now banks,” 

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