ALL THE WAY
2021
  Sustainability 
 Report

About the report
This is the Annual Sustainability Report of  
A.P. Møller - Mærsk A/S (hereinafter referred to as  
A.P. Moller - Maersk or Maersk as the consolidated 
group of companies and A.P. Møller - Mærsk A/S as 
the parent company). The report covers activities in 
the 2021 calendar year. Our approach to sustainability 
reporting is to focus on material issues and 
activities, in line with double materiality principles 
encompassing both the social and environmental 
impact of and on our business and ensuring 
consideration of context, completeness and balance. 
We are guided by the reporting principles set out in 
the GRI 101: Foundation Standard to determine the 
report content and quality in terms of materiality, 
stakeholder inclusiveness, sustainability context, 
completeness, balance, comparability, accuracy, 
61,787
Revenue 
(USD million)
19,674
EBIT 
(USD million)
See more Performance data on pp. 54-55.
2021 
performance 
highlights
36,863
Direct emissions  
(scope 1)
310
Indirect emissions  
(scope 2), location-based
28,952
Value chain emissions  
(scope 3)
Greenhouse gas emissions  
(1,000 tonnes CO₂ eq.)
22%
Women in leadership   
(% based on headcount)
Employee engagement 
59th 
*in the Gallup organisation’s database of global companies
percentile*
timeliness, clarity and reliability. This report also 
represents our statutory statement on social 
responsibility, underrepresented gender and 
diversity and data ethics in accordance with 
sections 99a, b, d and 107d of the Danish Financial 
Statements Act.
As a supplement to the Annual Sustainability 
Report, we prepare an ESG data overview of key 
performance indicators as well as SASB, TCFD and 
UN Global Compact Communication on Progress 
index tables. The ESG overview can be downloaded 
at: investor.maersk.com under files for download at 
the release of the Annual Report. 
Previous years’ reports and data table are also 
available online. Please visit Maersk.com/sustainability.
        The science is clear: we must make an impact  
 
      in this decade, and we are now accelerating  
 
 our climate ambitions by ten years  
  
 
           
and committing to be net zero across  
 
 
   
 
      our business and value chain by 2040 
 
   
   with 100% green solutions for our customers.
Søren Skou, CEO of A.P. Moller - Maersk
2
A.P. Moller - Maersk      Sustainability Report 2021
About the report

Table of  
 contents
 
Introduction
4 
A.P. Moller - Maersk in brief
5 
What we do and  
 
how we create value 
6 
Letter from our CEO
8 
Striving to create resilient 
 
and inclusive supply chains
10 
ESG strategy  
 
and governance
13 
Materiality and  
 
stakeholder engagement
 
Progress on ESG
17 
Environment
 
18 Climate change
 
29 Environment and ecosystems
 
33 Responsible ship recycling
35 
Social
 
36 Safety and security
 
39 Human capital
 
40 Diversity, equity and inclusion
 
42 Employee relations  
 
 
and labour rights
 
43 Human rights
44 
Governance
 
45 Business ethics
 
46 Sustainable procurement
 
48 Data ethics
 
49 Responsible tax
 
50 Citizenship
 
Data and assurance
52 
Progress overview
54 
Performance data
56 
Performance data    
 
 
accounting policies
59 
Statement of the 
 
Board of Directors and  
 
the Executive Board 
60 
Independent limited  
 
assurance report on the 
 
Performance data
62 
Stay up to date
A.P. Moller - Maersk      Sustainability Report 2021
Contents
3

95,000
employees in 
130+ countries 
730+
container vessels
deployed
3.2 million
sq. meters warehousing 
capacity worldwide
130+
countries on all 
continents where we 
call on 475+ ports
Every 
6 minutes
one port call somewhere in the world
100,000+
customers all over 
the world, large 
and small
4.5 million
intermodal containers 
(FFE) handled (truck, 
rail and barge)
68
terminals across 
42 countries
2/3
of revenue from maersk.com, 
EDI, Twill and mobile
A.P. Moller - Maersk      Sustainability Report 2021
Highlights
Introduction and strategy
Progress on ESG
Data and assurance
4
A.P. Moller - Maersk is connecting 
and simplifying the world’s supply 
chains with the vision of providing 
truly integrated logistics. Across 
oceans, ports, air and on land, we 
are combining our supply chain 
infrastructure with the power of our 
people and technology to drive end-
to-end innovation that accelerates 
our customers’ success.
A.P. Moller - Maersk in brief

ESG
People
Technology
Financial & 
operational 
synergies
Customer
synergies
Terminals
Ocean
Logistics & 
Services
 What we do  
 
     and how  
 we create value
A.P. Moller - Maersk enables its customers to trade 
and grow by transporting goods anywhere. Our 
business model supports our vision of providing 
truly integrated logistics that create value for our 
customers. By combining a leadership position in 
Oceans with Logistics & Services and Terminals,  
and by realising synergies across our business,  
we create better outcomes for our customers. 
Purposeful people and our culture
Our talented and diverse team of 95,000 employees live 
our Core Values every day as they help customers realise 
their ambitions.
Our brand
For more than a century, we have built partnerships  
with customers, enabling them to prosper by facilitating 
global trade.
Stakeholder relationships and partnerships
We rely on constructive relationships with customers, 
suppliers, peers and authorities to conduct our business 
and maintain supportive framework conditions. See our 
key partnerships on p. 15.
Natural resources  
Our business relies on natural resources, in particular for 
steel for our vessels and oil for fuel, as we transition to 
green energy sources.
Assets and end-to-end delivery network
Our assets, supplier relationships and expertise in 
end-to-end delivery networks ensure the resilience of our 
customers´ supply chains.
Financial capital 
We have a strong balance sheet and are committed to 
remaining investment grade-rated.
Technology and data
Technology and data are key to enhancing our operational 
performance and solutions for our customers´ success.
RELATIONSHIPS
RESOURCES
Our customers
We aspire to provide truly integrated logistics that connect 
and simplify our 100,000+ customers' supply chains, 
enabling them to focus on growing their business. Read 
more on p. 16.
Our people
Our people bring key skills and capabilities to our business 
and in turn, we must keep them safe and engaged while 
offering interesting career paths in enabling global trade. 
Read about our work on safety on pp. 36-37 and on human 
capital on p. 38.
Society
We are going all the way in digitising, democratising and 
decarbonising the world’s supply chains and in doing so, 
we reinvent the logistics industry and enable sustainable 
trade and growth. Read more on pp. 8-9.
The planet
Our industry is a significant contributor to global 
greenhouse gas (GHG) emissions and we are committed  
to decarbonising our operations through investments  
and collaboration. Read more on pp. 18-28.
Shareholders
In our transformation to become the global integrator  
of container logistics, we continue to innovate and grow 
shareholder value.
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Business model
5
What we depend on
Value created for

Letter from   
          our CEO
Dear reader, 
The decade of action has begun. There is 
unprecedented agreement among the world’s 
governments, industry and civil society 
stakeholders that we as a global community are 
operating on a strictly limited carbon budget, and 
that we cannot wait until 2030 to take action to 
reach a net zero world by mid-century. 
That is why we at A.P. Moller - Maersk (Maersk)  
are accelerating our climate commitments and 
actions. We see decarbonisation as the area where 
we can have the greatest impact, but we also 
recognise that sustainability risks, responsibilities 
and opportunities for our business encompass the 
full scope of Environmental, Social and Governance 
(ESG) factors. For this reason, we are integrating 
a comprehensive and ambitious ESG strategy 
into our business strategy and operations to hold 
ourselves accountable throughout the year. 
This is the heart of Maersk’s ESG strategy – from 
how we serve our customers on land, sea and air  
as the global integrator of end-to-end container 
logistics, to how we ensure a level and fair playing 
field that benefits societies far beyond the 
movement of goods. 
A year of disrupted supply chains 
The pandemic is still very much with us; this year 
has seen tragic human losses as new waves of 
breakouts continue to strain public health systems 
as well as taking their toll on mental health for 
many around the world. Maersk is doing its part 
where it can add the most value, doubling down 
on solutions to keep the world’s supply chains 
open for business this year, as customers continue 
to be challenged with disruptions, capacity and 
equipment shortages and port congestion. 
At the same time, these supply chain disruptions 
unfortunately had a negative impact on our 
carbon emissions for the year, as vessels sailed 
at maximum speed to make up for lost time, and 
reefer containers ran overtime to protect delayed 
foods and perishables. Keeping our customer 
promises and getting goods to the millions of 
people counting on us unfortunately meant that 
our CO₂ emissions, measured relative to how much 
cargo we carry, increased in 2021.
Climate ambitions align 
We must ensure that the critical need to support 
our customers in securing global supply chains 
against disruptions goes hand in hand with the 
imperative of decarbonising logistics. 
Two thirds of our top 200 customers have now 
set net zero or science-based decarbonisation 
targets, and they rely on us to achieve their 
ambitious targets. The commitment in October 
2021 by some of the world’s largest retailers in the 
coZEV coalition to only ship their goods on vessels 
using green fuels by 2040 is another signal of the 
scope of change we will see in the next decades.
We also saw strong demand and supply-side 
commitments made through two major initiatives 
introduced at the COP26 climate summit to 
jump-start demand for sustainable shipping 
solutions. The First Movers Coalition will help 
emerging technologies reach the market at scale 
and competitive cost, while the commitment  
to establish green shipping corridors by countries 
signing up to the Clydebank Declaration will  
provide infrastructure to accelerate their 
operational deployment.
A.P. Moller - Maersk    Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Letter from our CEO
6

We are committing  
 
to be net zero across  
our business by 2040
e
New targets and actions for net zero by 2040
In 2018, Maersk took leadership with a strong 
commitment to decarbonise our shipping 
operations by 2050 and develop solutions to help 
the industry reduce its carbon footprint. Since then, 
we have continuously accelerated our actions and 
ambitions and proven that scalable technologies 
and solutions are available, also in a so-called 
hard-to-abate sector as shipping. 
The science is clear: we must make an impact 
in this decade, and we are now accelerating our 
climate ambitions by ten years and committing to 
be net zero across our business and value chain by 
2040 with 100% green solutions for our customers. 
This represents our commitment to our customers: 
that we will decarbonise their supply chains in time, 
and our commitment to society to act with urgency 
and have an impact in this decade. We have set 
a new 2030 target to align with a Science Based 
Targets initiative (SBTi) 1.5°C pathway. And also by 
2030, our target is to have industry-leading green 
customer offerings, including 25% of ocean cargo 
transported with green fuels, 90% green operations 
for contract logistics and cold chain, and at least 
30% of air cargo transported with sustainable 
aviation fuel (SAF).
Our new targets are an 'all-in' commitment. 
They will not be easy to achieve, but we believe 
it is doable. Since setting our first net zero target 
in 2018, we have consistently found that climate 
solutions are available. In 2021, we demonstrated 
this with tangible actions and investments, 
including the order for eight large ocean-going 
container vessels capable of being operated on 
green methanol, to be delivered in 2024. In January 
2022, we extended the order for four more vessels 
in the series, to be delivered in 2025. 
The biggest immediate challenge is the 
availability and cost of the green fuels necessary to 
reach our targets, and governments and industry 
must work together to address this long-term. 
During 2021, we took steps to invest and secure 
agreements with fuel providers. Maersk is strongly 
supported by our customers and stakeholders on 
this journey. Customers continue to set ambitious 
targets for their supply chains and we are pleased 
to see their strong desire to partner with us in 
developing new technologies and jointly piloting 
green solutions. 
The finance and investor communities are also 
critical stakeholders. In November, Maersk took a 
major step in aligning our finance strategy with our 
decarbonisation strategy through the introduction 
of a Green Finance Framework, and we saw an 
encouraging high level of interest from investors. 
Maersk looks forward to continuing to work with 
our customers, industry partners, investors and other 
key stakeholders to help build and scale a market for 
cost competitive, green logistics solutions. 
A comprehensive strategy on Environmental, 
Social, and Governance priorities
In 2021 we reviewed our priorities to ensure 
a comprehensive focus on all material 
Environmental, Social and Governance issues 
while integrating ambitions and targets into our 
business strategy. Our ESG priorities are grounded 
in a strong foundation of societal responsibility 
and a commitment to serve our customers’ needs 
for sustainable logistics solutions, and aligned with 
key external standards and ratings. This ensures 
that we prioritise the issues that are most material 
to society and to Maersk, with proportional 
responses and solid metrics to track progress and 
hold ourselves accountable. As we embark on the 
roadmap to deliver on our updated targets, we 
are committed to tying performance on key ESG 
metrics to executive remuneration from 2023. 
Our ESG strategy comprises 14 categories covering 
all material responsibilities, risks and opportunities 
across the environment, social and governance 
dimensions, and our work is guided by three  
core commitments:
• We will take leadership in the decarbonisation  
of logistics
• We will ensure that our people thrive at work  
by providing a safe and inspiring workplace
• We operate based on responsible business 
practices
In this report, we present our ambitions and report 
on progress across all 14 categories. In 2022, we 
will host our first ESG Day targeted at investors, to 
provide more detail on our strategic ESG targets 
and the roadmap to deliver on our ambitions. 
Loss of lives are unacceptable 
Our prime responsibility is to keep our people 
safe. We are not always able to live up to that 
responsibility, and it is with great sadness I recognise 
that four people lost their lives while working for 
us in 2021. This is unacceptable to me, and the 
Executive Leadership Team and I continue to be 
fully committed to the development of a safety 
culture and mindset that will enable us to eliminate 
the risk factors leading to fatal accidents.
Engaging and living our values
In line with our continued support for the UN 
Global Compact, we recognise the importance of 
collaboration to reach our ambitious goals, and as 
a result we continue to engage in partnerships and 
alliances across sectors with leading organisations, 
including many of our customers, to drive progress 
on sustainability issues. In addition to providing 
real opportunities for developing and scaling new 
solutions, such partnerships and other public 
commitments are open demonstrations of how we 
live our Core Values.
Despite some of the unavoidable setbacks 
caused by the continued pandemic, 2021 was a year 
of many milestones – none of which would have 
been possible without the shared commitment of 
our customers, partners and the many dedicated 
and passionate people at Maersk. 
Driving resilience and sustainability into the 
world's supply chains is a daunting task. I trust 
our Global Integrator strategy, our investments 
and our commitment to the task will enable us to 
deliver. We are also helped by the unprecedented 
momentum and consensus on the importance of 
acting with urgency. The decade of action is not 
just beginning - it is well under way.
Søren Skou
CEO of A.P. Møller - Mærsk A/S
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Letter from our CEO
7

MANAGED by Maersk
Combining transport and fulfilment solutions with
digital platforms, and providing end-to-end visibility,
actionability and control. Includes services such as 
lead logistics, supply chain management, and cold 
chain logistics.
FULFILLED by Maersk
Solutions connecting seamlessly to our transportation 
network, optimising inventory flow and precision to 
deliver individual orders precisely and on time. Includes 
services such as contract logistics (warehousing, 
distribution and depot) and e-commerce.
TRANSPORTED by Maersk
Modular solutions providing customers end-to-end 
services with higher reliability, speed and accountability. 
Includes services such as ocean and landside 
transportation, air and less than container load.
A.P. Moller - Maersk (Maersk) connects and 
simplifies trade to help customers and societies 
grow and thrive. With 95,000 employees, 
operating in more than 130+ countries, we see it 
as our mission to go all the way to digitise and 
decarbonise the world's supply chains to enable 
global trade for a growing world. Across oceans, 
ports, air and continents, we provide essential 
infrastructure that links producers, suppliers, 
manufacturers and consumers around the world. 
The pandemic has created exceptionally 
challenging conditions for global supply chains. In 
2021, the push to re-invigorate national economies 
combined with a boom in e-commerce and 
continued pandemic-related challenges on land led 
to congested supply chains globally. 
In the port of Los Angeles in the US, the largest 
point of entry for trade between China and North 
America, the congestion challenge is highly visible. 
Towards the end of 2021, over 80 vessels lay in 
wait just to enter the port and secure a slot, with 
an average waiting time of 13 days. The average 
time for unloading and reloading the vessel had 
also doubled to between six and seven days¹. 
In addition, COVID-19 flareups in some Chinese 
ports led to partial port closure and the number 
of vessels waiting to enter Chinese ports were at 
significantly higher levels than at any other time 
during the past three years. In Asia more broadly, 
small manufacturers were unable to book space on 
vessels with inventory build-up and no income as a 
result. Also, vessels increasingly cancelled planned 
port calls en route between Asia and North 
America or Europe. This led to a build-up of cargo 
in small or far-off ports – as well as a shortage in 
the supply of containers. 
Combined with these more long-term effects 
were other one-off yet significant disruptive events 
such as the six-day blockage of the Suez Canal in 
March due to the grounding of a large container 
vessel, which shut off all traffic. As one of the 
world's busiest trade routes, the canal obstruction 
had a significant negative impact on trade between 
Europe, Asia and the Middle East, and after five 
days over 360 ships were waiting to pass through 
the canal. Chain reactions from extreme weather-
related events also affect supply chain resilience. 
An illustrative example of this is the November 
2021 shutdown of all rail lines away from the Port 
of Vancouver, another major shipping centre on 
the North American west coast. The blockage was 
due to massive mudslides created by record rains 
falling on soil that had been left barren and loose 
from major forest fires months earlier².
Building resilience
During 2020 and 2021, we have seen global 
supply chain management become the centre of 
attention for our customers, driven by the need to 
ensure resilience. After decades of optimisation and 
keeping cost and inventory to a minimum, many 
customers saw the need to fundamentally reassess 
their approach as flexibility, connectivity, and ability 
to rapidly respond to new shocks in the supply 
chain became critical competitive advantages. 
Hence, the conversations with our customers 
are becoming more holistic, partnership-based 
relations, focused on how we truly partner with 
them to solve their logistics problems and keep 
their supply chains running end-to-end. 
The exceptional market conditions have thus 
accentuated customer demands that verify 
Maersk's strategic direction to be the global 
integrator of end-to-end container logistics. 
A key enabler of this ambition is the rollout 
of new digital platforms, with the intent to drive 
greater standardisation and improved customer 
experience. During 2021, we saw increases in our 
digital interaction with customers on all available 
platforms, indicating a huge shift in how customers 
will engage with us going forward and a validation 
of our industry-first digital solutions, for example 
instant booking confirmation. 
Our customers can engage with Maersk's ocean 
and logistics business in different ways, as shown 
on the left, ranging from the simplest option of 
"Transported by Maersk", for example booking a 
slot for a container on one of our vessels, to the 
most advanced model, "Managed by Maersk", 
where our full network of assets, systems and 
capabilities are activated to manage a customer's 
logistics needs all the way. When we assume 
responsibility for our customers' logistics needs, 
we know they expect us to live up to the highest 
standards of responsibility across the full scope of 
environment, social and governance (ESG) matters. 
Striving to create resilient   
 
 
and inclusive supply chains
End-to-end logistics services
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
The Global Integrator
8
1     www.wsj.com/articles/supply-chain-problems-show-signs-of-easing-11637496002
2     www.bloomberg.com/news/articles/2021-11-30/climate-change-brings-insect-plagues-and-christmas-shortages

Our customers are implementing sustainability 
and ESG requirements into their logistics decision-
making, as witnessed for example in the rapid 
growth in the number of our large customers using 
ESG supplier evaluation platforms such as EcoVadis. 
We are incorporating customer requirements into 
all our ESG priorities, and have launched several 
commercial products to support our customers on 
decarbonisation. See p. 19. 
Trade contributions
We invest in digitising, decarbonising and 
integrating global supply chains, and beyond the 
benefits to our customers and our own business, 
these efforts also contribute to making trade 
more sustainable by removing friction in trade, 
and decoupling greenhouse gas emissions during 
transportation from economic growth.
The challenges to the concept of free, global  
trade, for example the increasing use of protectionist 
measures and a negative perception of the impacts 
of global trade especially among some groups in 
Europe and the USA, began before but has increased 
during the global pandemic. We recognise the need 
for debate on how to enable the global trading 
system to favour more resilience, sustainability and 
inclusivity. Still, there is no doubt that trade is a 
powerful contributor to sustainable development, 
as highlighted across numerous UN Sustainable 
Development Goals and targets.
Challenges for small businesses
Trade is not an automatic equaliser, however. 
And the current demands for shipping and 
logistics capacity has hit small and medium-
sized enterprises (SME) around the world hard, as 
they struggle to find free capacity in an already 
overheated system, or as calls to their local ports 
are cancelled. 
Maersk’s digital logistics solution for SME 
company trade, Twill, allows companies to book 
directly through a digital platform. Since its 
commercial launch in 2017, Twill’s customer base 
has grown steadily, having now supported almost 
8,000 small and medium-sized businesses to 
continue to benefit from international trade. Twill 
provides more than a booking option, developing 
services to support SMEs to access global markets. 
In 2021, Twill launched a knowledge hub as part 
of the online platform aiming to give information 
to SMEs on logistics know-how, news, trends, and 
events. Since its release, the outreach was 56,000 
unique users (5,000 average per month). 
To continue to support SMEs, that are heavily 
impacted today by the lack of space, Maersk is 
dedicating more ocean space to Twill. However, it 
is by no means enough to counter the challenge 
for the world's small businesses. Helping SMEs to 
grow and boost their access to global trade must 
continue to be a policy priority for an inclusive and 
sustainable recovery, as SMEs are the backbone of 
many national economies. 
Support for women in trade
The positive impacts of including more women-
owned businesses in trade are recognised by 
governments and scientists alike. 
Twill has since 2018 supported SheTrades, an 
initiative under the International Trade Center, that 
works to connect women entrepreneurs from all 
over the world to international markets. In 2021 
we extended the partnership to continue until 
2024. One of our primary contributions is the 
development of a coaching programme, where 
coaches working for Twill or Maersk are paired with 
a woman entrepreneur from a developing country, 
supporting the small business owner in growing 
her company by connecting to international trade. 
After a pilot in 2020, a digital coaching solution is 
now being developed which is expected to launch 
in early 2022. This automation will help scale the 
programme, to allow many more entrepreneurs  
to participate. 
Integrating our commitment to sustainable trade
Our commitment to sustainable and inclusive 
trade has previously been expressed in separate 
sustainability goals, which included four targets 
towards 2025. The targets focused on connecting 
global containerised trade to digital solutions, on 
connecting small and medium-sized enterprises, 
including women-operated businesses, to 
international trade, on trade facilitation reforms  
and on reducing food loss in logistics. 
Today, integration and digitisation of global 
supply chains are at the core of our business 
strategy. Through Twill, we offer services directly 
targeting the needs of small and medium-sized 
enterprises, and our cold chain business is growing 
steadily. Having time-bound commitments separate 
from our business and integrated ESG strategy is 
therefore not meaningful, and we are no longer 
reporting on those targets. 
Our commitment to sustainable trade remains, 
and in 2022 we will continue to consider how our 
contributions to improving the world of trade can 
best be reflected in both words and actions. 
8.2
8.3
8.5
9.3
17.10
17.16
The potential of trade to be a 
powerful enabler of sustainable 
development is expressed in the 
UN Sustainable Development 
Goals – in particular the goals 
related to growth and jobs, 
infrastructure, production and 
partnerships.
Mumbai Maersk leaving port fully loaded
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
The Global Integrator
9

ESG strategy  
 
and governance
As a global company, A.P. Moller - Maersk (Maersk) 
must take active responsibility for the society 
and environment we operate in. While this belief 
has been part of the company from its early 
beginnings, the understanding of what constitutes 
taking active responsibility has changed over time, 
and never more than in the last few years. 
Today, working actively and strategically with 
all aspects of corporate risks and responsibility 
is a baseline requirement from our customers, 
investors, employees, regulators, civil society and 
other stakeholders, whose expectations are also 
increasingly converging.
At the same time, Maersk is moving through  
a transformation: from conglomerate to end-to-
end logistics provider as directed by our Global 
Integrator strategy, from reliance on fossil fuels 
to industry leader in the green transformation, 
and from technologically conservative to digital 
frontrunner.
These factors drove us to rethink and reframe 
our sustainability work in 2021. Building on the 
update in 2020 linking our sustainability priorities 
to Maersk’s Global Integrator strategy, we added 
an Environment, Social and Governance (ESG) 
perspective to our analysis and have defined a 
comprehensive ESG strategy where accountability 
and governance for each of the ESG issues 
identified is strengthened by Executive Leadership 
Team anchoring and renewed target setting. With 
this strategy, we are establishing ESG as core to 
the purpose of our company. We have chosen 
to use the term, 'ESG', as it resonates well with 
our key stakeholders and adds greater emphasis 
on how we measure and report on progress and 
performance. However, we continue to use the 
terms sustainability and ESG interchangeably.
ESG enables our business strategy
Our ESG strategy is centred around three core 
commitments which encompass the areas that the 
Executive Leadership Team determined as strategic 
priorities within the environment, social and 
governance dimensions. The full ESG framework 
comprises 14 categories covering all of Maersk's 
material sustainability responsibilities, risks and 
opportunities (see graphic on next page).
The core commitments and their supporting 
KPIs and targets represent the issues where Maersk 
can create the most significant impact due to our 
company’s position, size and reach, and which are 
critical to the success of our business strategy. 
Driving progress on our commitments
For each of the strategy's three core commitments, 
we have established supporting commitments and 
targets which steer our activities and enable our 
stakeholders to measure and hold us accountable 
for our performance. 
In addition to the strategic priorities and 
targets, all of the 14 categories and relevant 
sub-categories covered by the ESG strategy have 
defined ambitions, KPIs and metrics for reporting 
going forward (see the relevant sections of this 
report). As external expectations on ESG issues 
continuously evolve, and as our efforts progress, 
we recognise that our priorities will also evolve and 
our target-setting and reporting will mature.
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
ESG strategy and governance
10

ESG strategy highlights new material issues
The ESG strategy's commitments and categories 
are aligned with and expand on the sustainability 
priorities defined in 2020: decarbonising logistics, 
sustainability in our end-to-end offerings and 
responsible business practices. Towards the same 
ends, we have determined five of the 14 ESG 
categories to warrant heightened attention. These 
are climate change, safety and security, diversity, 
equity and inclusion (DEI), business ethics and  
data ethics. 
Our work to create the ESG strategy has led to the 
following key changes in the way we work with and 
report on our material issues: 
 - We launched a new, ambitious vision 
accelerating targets for decarbonisation. Read 
more on pp. 18-28.
 - We elevated the focus on people and social 
issues by establishing safety and security, as 
well as DEI, as strategic commitment issues, 
with the addition of the new issue of human 
capital. Read more on p. 39. 
 - We launched new targets for DEI reflecting a 
higher ambition level on gender diversity and a 
stronger focus on building an inclusive culture. 
Read more on pp. 40-41. 
 - The Environment and ecosystems category 
includes the topics we identified to be most 
material from an environmental impact 
perspective: Waste and pollution, including air 
emissions, ecosystem health and biodiversity, 
and efficient resource consumption. Read more 
on pp. 29-32.
 - The responsible ship recycling programme is 
anchored in the Environment & ecosystems 
category, however, we continue to take 
responsibility for both social and environmental 
impact. Read more on pp. 33-34. 
 - Our programme on ESG in procurement is now 
called ‘Sustainable procurement’, signalling 
a broader scope establishing full visibility of 
suppliers’ ESG performance for our end-to-
end logistics product offerings. This includes 
continued focus on responsible business 
practices. Read more on pp. 46-47.
 - Our ESG strategy includes the new issue  
of Data ethics ensuring our responsible use  
of data. Read more on p. 48. 
 - We no longer report separately on our 
previously set 2025 targets for Sustainable 
and inclusive trade because their purpose is 
absorbed by our Global Integrator strategy. 
Read more on pp. 8-9.
 - We revert to reporting on human rights as an 
ESG category in its own right, but cutting across 
multiple other topic areas. Read more on p. 43. 
For more on our materiality assessment for 2021, 
please see p. 14.
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
ESG strategy and governance
11
A.P. Moller - Maersk ESG strategy
Environment
Social
Governance
Commitments
We will take leadership in the decarbonisation of logistics
We will ensure that our people thrive at work by providing a safe and inspiring workplace
We operate based on responsible business practices
We will deliver on our customer commitment to 
decarbonise their supply chains in time and our societal 
commitment to act and have impact in this decade
We create an engaging 
environment for all 
colleagues
We facilitate 
diversity of thought
We ensure everyone gets home 
safe by preventing fatal and 
life-altering incidents
We live our  
Code of Conduct
We procure  
sustainably
We protect and 
treat data with 
respect
Strategic 
targets
All targets are 
for end of year
2040: 
• Net zero across the 
business 
• 100% green solutions to 
customers
2030: 
• Aligned with the Science 
Based Targets initiative  
1.5°C pathway
• Industry-leading green 
customer offerings 
across the supply chain
2025: 
Top quartile score on 
engagement survey
2025: 
>40% women in 
management
>30% diverse 
nationality of 
executives
2023: 
• 100% of High Potential Incidents 
trigger frontline Learning Teams
• Global Leadership (Top 900) 
upskilled in Maersk safety and 
security principles
2023: 
100% of 
employees 
trained in the 
Maersk Code  
of Conduct
2024: 
100% of 
suppliers 
committed to  
the Supplier 
Code of Conduct
2023: 
100% of 
employees 
trained on data 
ethics
Overview  
of all ESG 
categories
Climate change 
Environment and ecosystems (incl. ship recycling)
Employee relations and labour rights - Safety & security - Human capital 
Sustainable and inclusive trade - Diversity, equity and inclusion - Human rights
Business ethics - Governance - Responsible tax
Sustainable procurement - Data ethics - Citizenship

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
ESG strategy and governance
12
Governance of the ESG strategy
Governance of sustainability and ESG is anchored 
with the Board of Directors and the Executive 
Leadership Team. Ownership and responsibility to 
drive actions across the 14 categories is anchored in 
line of business to ensure alignment with business 
priorities and a long-term focus on ESG. A sponsor 
from the Executive Leadership Team is assigned to 
each category. 
Across categories, a central SteerCo representing 
key corporate functions ensure direction, 
coordination and ESG subject matter expertise. 
Underlining the commitment to the ESG strategy, 
the Board of Directors has committed to linking 
executive remuneration to key ESG targets  
from 2023. 
ESG in the central governance framework
Several ESG topics related to compliance are 
integrated into Maersk's central governance 
framework, Commit, which consists of 35 
internal governance rules determining the goals 
and boundaries for our actions. Each rule has 
a designated owner in the organisation who is 
responsible for compliance reporting to the Risk 
and Compliance Committee. Executive oversight 
of compliance with Commit is anchored in this 
committee, where three members of the Executive 
Leadership Team meet quarterly. The expectations 
of all employees on ESG compliance is described in 
the A.P. Moller - Maersk Code of Conduct, which is 
available on the Maersk.com website.
Whistleblower system and Ombuds function
As part of the control mechanisms in our 
governance system, the Maersk whistleblower 
system is a confidential channel through which all 
stakeholders can raise concerns about possible 
violations of laws or established Maersk rules in 
areas such as competition law, IT security, data 
privacy, threats to health, safety and environment, 
theft and embezzlement, financial fraud, corruption, 
human rights and labour rights, workplace and/or 
sexual harassment, retaliation or discrimination.  
We do not tolerate discrimination or retaliation 
against persons submitting reports in good faith. 
See pp. 42 and 45 for data on whistleblower cases 
in 2021 relating to employee relations  
and anti-corruption.
In 2021, we introduced the Maersk Ombuds 
function as a neutral, independent, informal and 
100% confidential function that will listen to and 
coach employees who do not feel comfortable 
reporting concerns to human resources 
departments, line managers or posting to the 
whistleblower system, in resolving conflicts or 
concerns. Contrary to the whistleblower, the service 
is informal and offers a voluntary and safe place 
for employees to seek guidance, voice concerns and 
discuss options for any work-related matter, even if  
they opt not to report it. During the 7 months it  
was operational in 2021, the function handled 90 
issues representing 127 employees. The Ombuds 
function is governed by the principles of the 
International Ombuds Association.
Board of Directors
Endorses ESG strategy as part of annual strategy review
CATEGORY-SPECIFIC  GOVERNANCE
Facilitates ESG strategy and oversight, guides and enables category owners
ESG STEERCO ACROSS CORPORATE FUNCTIONS
Corporate Sustainability
Strategy
Finance
BOARD COMMITTEES (ESG RELEVANT)
Transformation & Innovation
Audit Committee
Remuneration
Executive Leadership Team
Deﬁnes ESG strategy and oversees implementation
ELT COMMITTEES (ESG RELEVANT)
Decarbonisation SteerCo
Risk & Compliance
Investment Committee
Environment
ESG category
ELT sponsor
Owner
Climate 
change
Henriette Hallberg 
Thygesen
Decarbonisation
Environment  
& ecosystems
Henriette Hallberg 
Thygesen
Safety & 
Resilience
Social
ESG category
ELT sponsor
Owner
Human capital
Susana Elvira
HR
Diversity, equity 
and inclusion
Susana Elvira
HR
Human rights
Caroline Pontoppidan Sustainability
Employee relations 
and rights
Susana Elvira
HR
Safety & security
Morten H. Engelstoft
Safety & 
Resilience
Sustainable/
inclusive trade
Vincent Clerc
Sustainability
Governance
ESG category
ELT sponsor
Owner
Governance
Caroline Pontoppidan
Sustainability
Business ethics
Caroline Pontoppidan
Compliance
Sustainable 
procurement
Henriette Hallberg 
Thygesen
Procurement
Responsible tax
Patrick Jany
Tax
Citizenship
Caroline Pontoppidan
Sustainability
Data ethics
Navneet Kapoor
Technology
Governance of ESG in A.P. Moller - Maersk

Materiality and  
 
stakeholder engagement
Stakeholder group
Stakeholder expectations
Key input sources
Customers
Demand for solutions that ensure 
responsible business practices and net 
zero emissions in their supply chains
Business development conversations 
Tender processes and criteria
Daily customer engagement 
Strategic Customer Council
Alliances and partnerships
Employees
Want work to provide meaning and to 
receive fair treatment and wages, a sense 
of belonging for all, and good 
development opportunities
Daily interactions between managers  
and colleagues 
Engagement surveys
Inclusion survey
Investors
Demand for strategies and plans that 
mitigate current and future risk to the 
business model. Strong focus on climate 
change including both risks and 
opportunities
Investor Relations engagement
ESG investor calls  
Investor surveys 
Capital Markets Day and ESG Day (to be 
held in March 2022)
Authorities
Demand compliance with existing 
regulation on responsible business 
practices and collaboration on 
transformation to net zero
Bilateral meetings
Engagement with local, national agencies 
and meetings of international authorities
Engagement through industry associations
Civil society
Want high levels of ambitions and 
accountability on all sustainability-
related issues where Maersk is perceived 
to have impact on society or the 
environment
Bilateral engagement  
Meetings on collaborative initiatives
Alliances and partnerships
Five key stakeholder groups inform our materiality assessment 
A.P. Moller - Maersk (Maersk) applies the principle 
of double materiality in determining how 
sustainability issues may constitute responsibilities 
or risks, enabling us to understand and report 
on those issues where Maersk has significant 
responsibility to mitigate potential negative impact 
on society or the environment and where issues 
may pose significant risk to our business. See our 
materiality model on p. 14.
Establishing the list of 14 categories included 
in our ESG strategy, we reviewed issues that 
stakeholders expect us to address and that we  
view as relevant to our business. To do this, we 
analysed reporting frameworks such as GRI, TCFD 
and SASB, the UN Sustainable Development Goals, 
customer expectations, ESG ratings, investor 
requests and interests and our materiality work 
from the previous 10 years. 
Five stakeholder groups are prioritised when 
establishing our material ESG issues: customers, 
employees, investors, authorities and civil society. 
Experts across Maersk continuously engage with 
these groups as they carry out their work, and 
their feedback is incorporated in the identification 
of material issues. Furthermore, in 2021 we have 
conducted a range of stakeholder engagement 
activities which are described on the next page.
ESG ratings as proxy for stakeholder 
expectations 
We also performed an analysis of the ESG ratings 
landscape. Complex and fragmented as it still is, 
we use the criteria in these ratings as a proxy for 
stakeholder expectations, particularly investors and 
customers. We have prioritised three ESG  
ratings which are most recognised and used by  
our customers and investors and which align  
with our ESG priorities: EcoVadis, CDP and S&P 
Global Corporate Sustainability Assessment. Three 
other ratings and benchmarks are furthermore 
viewed as very important to support our ESG 
leadership proposition: MSCI, Climate Action 100+ 
Net Zero Benchmark, and the Corporate Human 
Rights Benchmark. 
Our ambition is to work towards reaching 
leadership scores in these ratings, and a key 
requirement is to expand our disclosure on ESG 
targets and performance. As part of the ESG 
strategy formulation, new targets have been 
identified and several will be added to our existing 
external disclosures. It is expected that our level 
of disclosure will continue to increase as our ESG 
strategy matures. 
ESG risks to our business 
As part of the materiality process, we draw on 
our enterprise risk management process, which 
assesses top risks to achieving our business plan 
within a 5-year horizon (for more information, see 
the risk section of the Annual Report). Four ESG 
issues are assessed as among our top risks. These 
are human capital (inability to attract and scale 
the right workforce matching business demand), 
safety (failure to ensure the safety and security 
of our employees), climate change (failure to 
decarbonise our end-to-end supply chain at a 
speed that matches our customers’ and investors’ 
expectations), and business ethics (being involved 
in a large compliance case).
An updated corporate human rights impact 
assessment
A corporate-level human rights assessment was 
conducted in 2021. As Maersk is evolving into an 
integrated transport and logistics company, the 
company's human rights risk profile is changing. 
The assessment has informed our understanding 
of Maersk’s potential and actual human rights risks 
and impacts across our value chain (see p. 43). 
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Materiality and stakeholder engagement
13

1. Input
2. Assessment
3. Validation
4. Output: Material Issues
Customer 
engagement
Investor  
interactions 
Human rights  
assessment
Employee  
feedback
Supplier  
engagement
Civil society 
dialogue
Regulatory 
tracking
ESG ratings  
and standards
Trends and issues 
research
Social & environmental materiality 
Where Maersk - driven by our Core 
Values, stakeholder expectations, 
and social and environmental 
context - takes responsibility to 
mitigate significant potential 
negative impacts and increase 
positive impacts on people,  
society, and the environment
Criteria:
• Hard and soft law, 
voluntary commitments
• Severity & urgency  
of impact 
• Stakeholder expectations
• Our leverage to influence
• Sector materiality
• Our values, competencies, 
policies & strategies
Validation 
by executive 
sponsors and 
the ELT
• Climate change – meeting our obligation to decarbonise our end-to-end operations 
and to support a just transition [p. 18]
• Ecosystems & biodiversity – protecting the ecosystem in which we operate [p. 29]
• Air emissions, waste, pollution – minimising impacts of our activities [p. 31]
• Ship recycling – ensuring safe and responsible ship recycling globally [p. 33] 
• Safety & security – taking care of our people [p. 36]
• Diversity, equity & inclusion – creating an inclusive workplace with diversity of 
thought [p. 40]
• Human rights – ensuring respect for human rights across our value chain [p. 43] 
• Labour rights – ensuring decent working conditions [p. 42]
• Sustainable/Inclusive trade – contributing to an inclusive trade environment [p. 8]
• Sustainable procurement – ensuring responsible practices in our supply chain [p. 46]
• Responsible tax – being a responsible and transparent taxpayer [p. 49]
• Citizenship – contributing to communities and societies where we operate [p. 50] 
Financial materiality
Where environmental, social and 
governance issues pose significant 
short or long-term financial or 
strategic risks or opportunities to 
Maersk
Criteria:
• Influence on strategic 
decisions by Maersk and 
shareholders
• Magnitude of potential 
financial impact, informed 
by ERM and strategic 
opportunities
• Likelihood of future 
financial impact, informed 
by ERM thresholds
Validation 
by executive 
sponsors and 
the ELT
• Climate change – managing transition and physical impact risks and opportunities, 
including the imperative to decarbonise our customers’ supply chains in time [p. 18]
 
• Safety & security – managing critical risks across our operations [p. 36]
• Human capital – ensuring access to critical talent [p. 39]
• Business ethics – managing compliance risks across our operations [p. 41]
• Sustainable procurement – enabling our end-to-end logistics strategy [p. 42]
• Data ethics – enabling our growth as digitally-based global integrator [p. 44]
• Governance – linking ESG performance to executive remuneration [p. 12]
Environment
Social
Governance
Environment
Social
Governance
Materiality assessment 2021
Our approach to double materiality: We assess material topics using both social, environmental and financial criteria. Recognising the dynamic nature of materiality, this process is done on an annual basis covering four steps: 1. Input: Identifying 
the universe of sustainability issues; 2. Assessment: Determining materiality based on specific criteria; 3. Validation: Confirmation by the executive sponsors and the Executive Leadership Team; and 4. Output: Identifying ESG issues that encompass 
Maersk's material sustainability responsibilities, risks and opportunities. The steps and the results of our materiality assessment for 2021 are shown below. Read more about each issue in the relevant sections of this report.
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Materiality and stakeholder engagement
14

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Materiality and stakeholder engagement
15
Key engagements informing materiality in 2021
In addition to our customer engagement 
activities (read more on p. 16), a selection of other 
stakeholder engagement activities in 2021 deserve 
to be highlighted: 
We conducted a survey of selected key investors 
and NGOs to inform the planning of our first ESG 
Day targeted at investors, planned for March 2022. 
From this survey, we learned that the general 
expectation is that Maersk covers the full ESG 
landscape, but by far the greatest interest is in the  
specifics of our decarbonisation roadmap including  
interim targets and fuel strategy. Other highlighted  
topics of interest are climate risks and opportunities 
to business (including physical impacts of climate 
change), environment and biodiversity impacts, 
respect for human rights (operations and supply 
chain), ship recycling, tax and how ESG will be 
linked to executive compensation. 
During COP26 and at International Maritime 
Organization (IMO) meetings, we engaged 
with government representatives, customers, 
international and civil society organisations on 
many aspects of the decarbonisation agenda, 
including just transition.
We also engaged bilaterally with NGOs during 2021, 
for example with WWF to discuss underwater noise, 
deep-sea mining and a nature-positive economy, 
and with Amnesty International on due diligence 
and sustainable corporate governance. On human 
rights issues, ongoing engagement with civil society 
and rightsholders is important for informing our 
approach, and we engage with rightsholders and 
their representatives, including unions and local 
communities close to our terminals. 
As part of our participation in the Transform 
to Net Zero initiative, we have had dialogues with 
other corporate members and Environmental 
Defense Fund (EDF) on carbon pricing and 
offsetting, and engagement with the financial 
sector on net zero transformation. 
We engage regularly with investors on ESG 
topics, including the Climate Action 100+ network, 
and in 2021 had extensive dialogue with financial 
sector representatives as part of the launch of 
Maersk’s new Green Finance Framework and our 
first green bond. 
We gain insights into employee perspectives 
through the bi-annual engagement survey (read 
more on p. 39). In 2021, we also completed Maersk’s  
first inclusion survey, where all employees were 
invited to participate and provide insight into the 
state of inclusion in the company and ideas for 
improvements. Read more about the result of this 
survey on p. 40. 
Sustainability and ESG topics, in particular climate  
change and environmental issues, are increasingly 
high on the regulatory agenda for our industries. 
We engage with regulators in the EU, UN agencies 
and national governments on a wide variety of ESG 
topics, including decarbonisation, ship recycling, 
clean air and future fuels. In some cases we 
provide technical insights to relevant regulators, 
particularly at EU and IMO level. We engaged 
with EU representatives over elements in the 
EU Fit for 55 package, specifically in the area of 
decarbonising shipping. Other topics on our EU 
agenda have been the EU Taxonomy for sustainable 
activities and matters related to ship recycling. 
Another type of engagement is how Maersk 
responds to various government consultations 
across the world.
We also engage with regulators through 
memberships in industry associations such  
as World Shipping Council, Danish Shipping  
Responsible Trucking
Key partnerships and coalitions
Alliance of  
CEO Climate Leaders
Alliance for  
Clean Air 
and BIMCO, among other things by providing input 
to technical correspondence groups in IMO.
Reflecting the paramount importance and 
scale of our ambitions on decarbonisation, this is 
the area where we are most heavily and actively 
engaged in cross-industry partnerships and 
coalitions aiming to co-develop and catalyse 
solutions, standards and advocacy. Beyond the 
decarbonisation agenda, we are also active 
members of partnerships on other key ESG topics, 
including for example the Maritime Anti-Corruption 
Network (MACN), CSR Europe’s Responsible 
Trucking Initiative, the Ship Recycling Transparency 
Initiative, and World Ocean Council. An overview of 
partnerships can be seen below. 
As members of the UN Global Compact-led 
Ocean Stewardship Coalition, in 2021 we engaged 
in cross-sector consultations on maritime 
decarbonisation and ocean health. We contributed 
actively to the Blue Road to COP26 report and 
became a signatory to The Ocean for Climate 
Declaration, where signatories commit to act to 
achieve healthy and productive oceans.

Customer needs in sustainable logistics
Sustainability partnership
Maersk ESG priorities
Customer needs in sustainable logistics
Strategic collaboration on sustainability
End-to-end GHG visibility
End-to-end GHG optimisation
End-to-end green logistics
Co-innovation in sustainable logistics
End-to-end visibility & risk mitigation across logistics
Responsible business 
practices across ESG issues
Decarbonise logistics
“Unilever is committed to accelerating 
the transition to clean transport 
solutions, not just in our own 
operations, but along global value 
chains as we work to achieve net zero 
emissions by 2039. With logistics  
and distribution accounting for 
around 15% of our greenhouse gas 
emissions footprint, it’s important 
that we work with partners shifting 
to lower carbon fuels. We are proud to 
partner with Maersk as they pioneer 
carbon-neutral transportation on  
the high seas.”
Michelle Grose
Head of Logistics and Fulfilment, Unilever
Sustainability is becoming an integrated element 
in our engagement with customers and our 
product offerings. We listen to and engage with 
our customers on sustainability as part of daily 
business relationships and in dedicated fora. We 
are driven by a commercial need to understand 
customer needs and develop solutions and services 
that are well received in the market. We are also 
interested in our customers’ needs and priorities 
as input to our continuous evaluation of Maersk’s 
strategic direction, and we are always looking for 
potential partners, not least for driving us towards 
net zero as fast as possible. 
One new initiative in 2021 was our first Strategic 
Customer Council, where 30 of our largest 
customers joined members of our Oceans and 
Logistics (O&L) Management Board for a full 
strategy day. We had invited them specifically to 
get their input on shaping the future offerings  
of Maersk as we pursue our ambition to be the 
global integrator of container logistics. At the 
Council meeting were senior supply chain and 
logistics executives from some of the largest 
companies and brands in the world. The key 
takeaway from this event was that sustainability 
has become a key theme for all customers, 
regardless of industry.
Leading customers are part of new coalitions 
and alliances such as Cargo Owners for Zero 
Emission Vessels (coZEV), where large cargo owners 
come together to accelerate maritime shipping 
decarbonisation. Decarbonisation is the most critical 
sustainability issue for customers, but many other 
ESG topics are becoming increasingly important, 
including labour conditions, anti-corruption, 
procurement practices, safety, DEI and circularity.
Charting customer needs
Based on such customer engagement as well 
as analysis of market trends, past and current 
purchases, feedback from client managers in our 
operations and more, we have formulated a set of 
overall customer needs in sustainable logistics.
We meet these customer needs with a multi-tier 
value proposition for sustainable logistics, which 
aligns our engagement with the sustainability 
maturity and ambition level of our customers. For 
customers who match or exceed our ambitions, we 
continue to build partnerships to co-develop new 
and mutually beneficial market-based solutions 
for green logistics. Our most advanced customers 
are generally interested in partnering with key 
suppliers to solve sustainability challenges to 
differentiate themselves. They are interested in co-
innovating new groundbreaking solutions that can 
help them reach their sustainability ambitions and 
stand out as sustainability leaders. 
How we engage with customers on sustainability
We engage with our customers to understand how our solutions and services can contribute to the resiliency and sustainabilty  
of their supply chains. 
Materiality and stakeholder engagement
Introduction and strategy
16
A.P. Moller - Maersk      Sustainability Report 2021
Progress on ESG
Data and assurance

Environment
Taking action to decarbonise logistics is our greatest responsibility  
and where we can have the greatest impact. Our current greenhouse 
gas emissions account for 1% of all transport and logistics emissions, 
and there is no time to waste. The next pages of this report describe 
how we take leadership and activate our vision to reach net zero.
In this section, we also report on our efforts to minimise the negative
impacts that our operations may have on the natural environment 
within the areas of ecosystem health and biodiversity, waste and 
pollution. This includes air emissions, resource use and circularity,  
and how we continue to drive responsible ship recycling.
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Environment
Data and assurance
17

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Environment | Climate change
18
 Climate change
Global greenhouse gas (GHG) emissions from 
transport and logistics amount to 3.5 billion tonnes 
every year³ and A.P. Moller - Maersk’s current 
emissions account for about 1% of all transport and 
logistics emissions and close to 0.1% of all global 
emissions⁴. We must act with urgency to support 
the transition to a net zero economy by eliminating 
these emissions. 
All roads lead to decarbonisation 
In 2021, several events and developments brought 
further urgency to our work on decarbonisation. 
First, the UN Intergovernmental Panel on Climate 
Change’s 6th status report not only reiterated the 
need for eliminating GHG emissions but strongly 
emphasised that speed is of the essence to avoid 
irreversible effects of climate change.
Second, due to supply chain congestions 
following the COVID-19 pandemic, our emissions 
from ocean transport grew and impacted our vessel 
efficiency negatively. 
Third, the customer demand for green logistics 
solutions continues to grow. Two thirds of our Top 
200 customers have now set net zero or science-
based targets, and rely on us as logistics provider to 
enable them to reach their targets to decarbonise 
their logistics supply chains. This expectation was 
emphasised when nine of the world’s largest cargo 
owners – who are also our customers either directly 
or indirectly – in the autumn of 2021 launched the 
coZEV coalition (Cargo Owners for Zero Emission 
Vessels), and publicly committed to requiring net 
zero operations of their shipping partners by 2040.
Accelerating our commitments and targets 
Already in 2018, Maersk took leadership in our 
industry with a strong commitment to decarbonise 
our shipping operations by 2050 and develop 
scalable solutions to help the entire industry 
reduce its greenhouse gas footprint. Since then, 
we have continuously accelerated our actions 
and ambitions, and proven that while shipping is 
a so-called hard-to-abate industry, low climate-
impact solutions are already available. We must act 
now, and we can make significant progress already 
in this decade. Reflecting the increased sense of 
urgency, we have launched a new decarbonisation 
vision encompassing our entire GHG footprint 
requiring us to be accountable and drive this work 
with an emergency mindset. This means we do not 
have the luxury of waiting for a perfect solution 
but must work on several tracks that will deliver 
immediate impact, while continuing to strive for 
long-term solutions.
Our new targets for decarbonisation represent 
a bold and determined response, and a more 
ambitious vision that will meet expectations of 
societies and our customers, inspire our employees, 
and support our position as a leader in this field.
Maersk established its first net zero target in 
2018 covering our ocean operations. With the new 
targets and commitments presented on p. 19, we 
are now: 
• Adding speed and pressure by changing the 
goal post for decarbonisation from 2050 to 
2040 and extending the ambition to cover all 
businesses, customer offerings and all emissions 
scopes, aligned with the net zero criteria of the 
Science-Based Targets initiative (SBTi) (see p. 25  
for an overview of our current emissions footprint 
across all scopes).
• Adding urgency and ambition to our near-
term targets by aligning with a Science Based 
Targets initiative 1.5-degree pathway, which 
will be delivered by achieving 50% reduction of 
greenhouse gas emissions intensity in our oceans 
business, in addition to a 70% absolute reduction of 
scope 1 and 2 emissions in our terminals business 
(both from a 2020 baseline). 
• Detailing our commitment to customers with 
targets on green customer offerings towards 
2030 and 2040, covering ocean, air, contract 
logistics (warehouses and depots) and cold 
chain businesses. These products will utilise 
green technologies and solutions to ensure 
they provide real emission reductions within the 
supply chain.
• Adding the use of Natural Climate Solutions 
above and beyond the 1.5-degree target, as 
recommended by the SBTi. For more about 
Natural Climate Solutions, see p. 22. 
The SBTi shipping sector guidance is expected to 
be finalised in Q1 2022. Maersk has been part of 
a technical working group which was consulted 
by SBTi during the drafting of the shipping sector 
guidance, and based on our knowledge from this 
work, we assess our targets to be in line with the 
guidance for the 1.5-degree pathway and aim to 
have our targets validated by the SBTi as soon as 
the shipping sector guidance is published.
The world is facing a climate emergency. 
We see it as our obligation – as an 
industry leader and with the resources 
available to us – to do all we can to get to 
net zero operations as fast as possible 
and to help our customers decarbonise 
their global supply chains end-to-end. 
Why it matters
Targets
2040
Net zero across our business and 100% 
green solutions to customers
2030
• Aligned with a Science Based Targets 
initiative 1.5-degree pathway
• Industry-leading green customer 
offerings across the supply chain 
Targets above replace previous targets:
• To have net zero CO₂ emissions from 
our own operations by 2050, which 
includes having commercially viable, 
net zero vessels on the water by 2030
• To deliver a 60% relative reduction in 
CO₂ emissions by 2030 compared to 
2008 levels 
We will deliver an emergency response to 
the climate crisis and take leadership in 
the transformation of the transport and 
logistics sector to net zero operations.
Ambitions
17 . 16
13. 1
7 . 3
3     ourworldindata.org/emissions-by-sector 
4     www.iea.org/data-and-statistics/charts/transport-sector-co2-emissions-by-mode-in-the-sustainable-development-scenario-2000-2030

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Environment | Climate change
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Roadmap to deliver net zero by 2040
2030
2040
• Aligned with a Science Based Targets 
initiative 1.5-degree pathway
• Industry-leading green customer 
offerings across the supply chain
Net zero across 
our business 
and 100% green 
solutions to 
customers
Twelve 16,000 
TEU methanol-
enabled vessels in 
operation 
World's first 
container ship 
in operation on 
green methanol
Investment  
in 13 green 
methanol 
-enabled 
vessels
New 
decarbonisation 
vision and 
accelerated 
commitments
Priority future 
fuels defined
ECO Delivery 
ocean 
transport 
introduced
Net zero 
ambition 
launched
2018
2019
2020
2021
2022
2023
2024 - 2025
OUR DECARBONISATION COMMITMENTS
Our customer commitment to 
decarbonise their supply chains in time and…
…a societal commitment to  
act and drive impact in this decade
2030: Industry-leading  
green customer offerings across 
the supply chain
• Ocean: Min. 25% of cargo transported with 
green fuels.
• Air: Min. 30% of cargo transported with 
Sustainable Aviation Fuels.
• Contract logistics and cold chain: Min. 90% 
green operations (scope 1 and 2).
• Inland: Industry leading green offering - 
quantitative target to be defined in 2022.
2040: Net zero across our 
business and 100% green 
solutions to customers
• 100% green solutions to our customers.
• Net zero greenhouse gas emissions across 
all scopes and businesses.
• Aligned with the Net Zero criteria of  
the Science Based Targets initiative and  
a pathway to limit global warming 
to 1.5 degree.
2030: Aligned with a Science  
Based Targets initiative  
1.5-degree pathway
• Ocean ~50% reduction in emission intensity 
(2020 baseline).
• Terminals ~70% absolute reduction of scope 1 
and 2 emissions (2020 baseline).
• Natural Climate Solutions used above and 
beyond 1.5-degree target to sequester at least  
5 million tonnes GHG in 2030.
Note: Green is defined as fuels or energy that have low or very low greenhouse gas emissions on a life cycle basis. For details, see p. 21.

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Environment | Climate change
20
5
0
10
15
20
25
2008
2021
2021
2030
EEOI gCO2 per ton-nm
Year
2030
2008
Year
% of 2008
20
0
40
60
80
100
42.6%
Reduction of relative CO₂ 
emissions, 2008-2021
13.0
EEOI (gCO2/ton-nm), 2021
Towards 60% CO₂ emissions reduction
Actual energy efficiency
Relative energy efficiency reduction
Growing the market for decarbonised solutions
Maersk ECO Delivery is an Ocean transport 
customer offering that uses green fuels. Since its 
start in 2019, customer demand for Maersk ECO 
Delivery has grown more than 170% year-on-year. 
We expect the growth in sales for this solution to 
continue at least at equally significant levels in 
the coming years. In 2022, we will also expand our 
current ECO Delivery product to 3rd party verified 
emission-reduced Logistics and Services products 
to serve our customers across the entire value 
chain with green solutions. For air, we are helped by 
joining United’s Eco-Skies Alliance and committing 
to SAF for our customers in 2021 (see p. 23).
We launched a new Emissions Dashboard 
in 2021 that will help customers reach their 
increasingly ambitious carbon reduction targets. 
The dashboard will allow customers to measure 
their carbon footprint across Maersk-controlled 
and non-Maersk controlled logistics, including 
all transport modes such as truck, train, airplane, 
or vessel. The dashboard will provide increased 
emissions transparency, allowing customers to 
identify supply chain carbon hot-spots and make 
sustainable choices for their cargo flows. To ensure 
that the Dashboard meets customer needs and 
expectations, it was piloted and developed with 
leading Maersk customers who provided valuable 
and positive feedback along the way. 
Disruptions have adverse effects on emissions
In 2018, we set a target towards 2030 to reduce  
CO₂ emission intensity by 60% from a 2008 
baseline using the Energy Efficiency Operational 
Indicator (EEOI) developed by the IMO. However, the 
EEOI only measures CO₂ and not other greenhouse 
gases converted to CO₂-equivalents. As our new 
targets cover all greenhouse gases, the EEOI is 
no longer an appropriate measure for tracking  
progress towards these. However, we will keep 
reporting on performance, as it is a standard 
industry measure.  
 
We will also need to report against our old target 
until our new target is approved by the SBTi. 
When this happens, the 60% reduction target 
will be replaced by our new reduction target, 
which aims for a 1.5-degree aligned 50% relative 
reduction with a 2020 baseline. If a 2008 baseline 
were applied, the reductions achieved would be 
above 70%. 
Compared to emissions in 2020, we did not 
continue our downwards trajectory towards the 
EEOI target in 2021, as we saw an increase in our 
emissions intensity/EEOI of 6.9%. The increase 
is related to global supply chain disruptions, as 
vessels sailed at maximum speed to make up 
for lost time, and reefer containers ran overtime 
to protect delayed foods and perishables. These 
challenges are expected to continue into 2022, 
but not to continue indefinitely. As such, we are 
confident our emissions reductions will revert to 
being on the right track. 
New fuels for ocean transport
Even as we expand our ambitions to cover the full 
scope of our operations across land, air and sea, 
ocean transport continues to constitute the vast 
majority of our emissions. For this reason, we direct 
most of our decarbonisation investments towards 
our efforts to move away from the use of fossil 
fuels to power our vessels. 
For the past 100 years, shipping has used one 
type of fuel: oil. Today, we look into a future that 
is at least initially a patchwork of green fuel types, 
and where we will be placing bets on several 
different options to ensure we can make significant 
impact already in this decade.
Based on our pathway analysis of viable future 
fuels for net zero ocean shipping, we are actively 
pursuing the use of three types of fuels: 
• Biodiesel, which is already used to power our 
fleet, sold under the Maersk ECO Delivery label.
• Green methanol, which we are opting for  
in order to ensure we have an impact on  
the sustainability of global supply chains in  
this decade.
• Green ammonia, which may be a zero-greenhouse 
gas solution in the long-term, but is still a 
considerable longer way away from being ready 
to implement. 
EEOI: Energy Efficiency Operational Indicator. See further explanation in footnote below.
The indicator underlying the relative CO₂ reduction target is EEOI, Energy Efficiency Operational Indicator, calculated as g CO₂/(Ton x Nm). From 2020, we have disclosed performance in actual 
numbers in addition to the progress relative to the index year 2008. An improved methodology was also developed in 2020 to bring the calculation of EEOI fully in line with the IMO's Marine 
Environment Protection Committee's (MEPC) regulations. In line with credit facility requirements we continue to report on both the old and the new methodologies. Using the old methodology,  
we have by 2021 reduced emissions by 39.8% since 2008.
Old EEOI, relative 
from 2008 (%)
New EEOI as per MEPC 
circ 684, relative from 
2008 (%)
2030 target pathway, 
relative EEOI,  
2008 index 
Old EEOI,  
actual
New EEOI as per 
MEPC circ 684, 
actual
2030 target pathway, 
actual EEOI

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Environment | Climate change
21
Priority fuels for green shipping
Fuel
Key advantages
Key limitations/risks
Biodiesel 
(from waste feedstocks)
• Biodiesel market already exists
• Can be used as drop-in fuel in existing vessels and engines
• Limited availability of suitable biomass feedstock 
• Price pressure due to competing demand from road 
transport and aviation
Green methanol  
(bio-methanol and e-methanol 
including lignin enhanced fuels)
• Can be produced from sustainable biomass and renewable 
electricity
• Vessels running on methanol are already in operation today
• Well-known handling
• Bio-methanol: availability of suitable biomass feedstock
• E-methanol: Availability of biogenic CO₂  source and 
renewable electricity
Green ammonia 
(e-ammonia)
• Can be produced at scale from renewable electricity 
• Contains no greenhouse gases
• Safety and toxicity challenges
• Infrastructure challenges at ports
• Future costs depend on cost of renewable electricity  
and availability of engine, expected in 2025
Note: Green is defined as fuels or energy that have 'low' or 'very low' greenhouse gas emissions on a life cycle basis. See box to the right.
Our lifecycle assessment approach (see box to 
the right), leads us to conclude that e-methanol 
must be based on a biogenic source of CO₂ and 
renewable energy, bio-methanol must be based 
on sustainable biomass, and e-ammonia must be 
made purely from renewable energy. 
Furthermore, we continue our collaboration in the 
LEO coalition, where we work with a strong group of 
customers and scientists on developing a new type 
of biofuel for shipping based on biomass residue 
(lignin), derived from forestry and agricultural 
activities and alcohols (methanol or ethanol). 
We prefer not to invest in transitional fuels, 
including liquified natural gas (LNG), and instead 
leapfrog directly to fuels such as green methanol 
that are available now and have significantly 
larger greenhouse gas reduction potential and the 
possibility of being climate neutral on a lifecycle 
basis. This is in line with the emergency mindset we 
are committed to. 
Using lifecycle assessment  
to assess fuels 
Maersk evaluates all new fuels from 
extraction or collection of the feedstock 
through production, transport, and 
combustion of the fuel. We include CO₂ and 
all other relevant greenhouse gases (GHG) 
assessing them for their 20- and 100-year 
global warming potentials. We use the 
ISO 14040-series standard for life cycle 
assessment (LCA). 
On a lifecycle basis, net zero GHG emissions 
are only achieved when there is no net 
addition of GHG emissions associated with the 
fuel over its lifecycle, i.e. from raw material 
extraction to end of life. This means that to 
have net zero fuels the complete fuel supply 
chain must be fully decarbonised. 
The production pathway determines an 
alternative fuel's lifecycle GHG reduction in 
comparison to fossil fuels. Maersk works with 
partners to achieve higher GHG savings when 
developing projects for advanced fuels such 
as e-methanol, while this is not possible when 
sourcing commodity fuels, such as biodiesel. 
We distinguish between green fuels that 
have ‘low’ and ‘very low’ GHG emissions, 
equal to 65-80% and 80-95% GHG reduction 
compared to fossil fuels on a life cycle basis, 
respectively. Today's best alternative fuels can 
have lifecycle GHG reductions up to ~95%. 
Maersk uses LCA for the assessment of 
emissions and environmental impact of 
other activities such as vessel construction, 
maintenance, and recycling. We also consider 
all other impact categories of an LCA such  
as biodiversity, ecosystems, resources  
and materials depletion, toxicity, air and  
water quality. 
In our development of future fuels, we continue 
our collaboration with the Mærsk McKinney 
Møller Center for Zero Carbon Shipping, an 
independent, non-profit, leading-edge research 
and development centre launched in June 2020. 
We benefit from the collaboration with some of 
the best minds from industry, academia, energy, fuel 
and ship technology, regulatory affairs and finance, 
particularly in the area of technologies with low 
readiness levels, for example ammonia.
Thirteen new vessels ordered
The container shipping industry today faces a 
'Which comes first, the chicken or the egg?' 
dilemma, where marine fuel producers want to 
ensure there will be sufficient demand before 
making capital investments to scale production, 
and ocean shipping companies are waiting to order 
new vessels until they know cost-competitive 
fuel will be available at scale. In 2021, Maersk 
took significant steps to break this deadlock. 
In our efforts to accelerate the pace of our 
decarbonisation efforts, we announced in February 
that we were ordering the first container ship,  
a small feeder vessel, capable of operating 
on green methanol, for delivery in 2023. This 
means that we will be able to deliver on our first 
decarbonisation milestone seven years ahead of  
the original schedule. 
In August, we took the even more significant 
step of ordering a series of eight large container 
ships with a groundbreaking design allowing them 
to operate on green methanol, starting delivery 
in 2024. We have since expanded this order to a 
total of 13 vessels with the last four vessels to 
be delivered in 2025, and have made public the 
innovative design of these.

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Environment | Climate change
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These commitments are an industry first and will 
offer Maersk customers green transportation at 
scale on ocean trades. When fully phased in, the 13 
vessels will replace emissions of 1.5 million tonnes 
greenhouse gas emissions, corresponding to 4.5% 
of our fleet emissions in 2020. 
The series, to be built by Hyundai Heavy 
Industries (HHI), will replace older Maersk vessels, 
and come with an innovative dual-fuel engine 
setup that can operate on methanol as well as 
conventional low sulphur fuel. Maersk plans to 
operate the vessels on green e-methanol or bio-
methanol as soon as possible. Sourcing adequate 
amounts of green fuel for these vessels will be a 
critical challenge as it requires a significant ramp-
up of global production capacity.
Securing supply of future fuels 
Our order of the 13 methanol-powered vessels 
sends a firm demand signal to the market. With 
this commitment fuel producers can safely begin 
investing in developing scalable solutions to ensure 
the supply of future green fuel. However, securing 
a competitive global supply chain of green fuels 
is the main challenge ahead. Maersk needs the 
global, green methanol production to increase 
from 30,000 tonnes to 500,000 tonnes in 2024 
just to operate the first series of twelve vessels. We 
have engaged in developing this market through 
numerous investments and will continue to do so.
In 2021, we entered into an agreement with 
REintegrate, a subsidiary of the Danish renewable 
energy company European Energy, to produce and 
deliver the green methanol for the vessel set for 
delivery and integration in our fleet by 2023. This 
will imply establishing a new facility to produce the 
approx. 10,000 tonnes of green e-methanol needed 
annually to operate Maersk’s first new, green vessel.
Maersk will work closely with REintegrate and 
European Energy on the development of the 
facility, which will be placed in Denmark and use 
renewable energy provided by a solar farm in the 
south of Denmark and biogenic CO₂ to produce  
the e-methanol. We consider this partnership 
to be a learning platform for scaling green fuel 
production through collaboration across the 
industry ecosystem. 
Maersk Growth, the company’s venture capital 
arm, has new green fuel types as a focus area. In 
The use of Natural Climate Solutions 
Included in our new vision to decarbonise logistics is 
the additional use of Natural Climate Solutions (NCS) 
to increase our impact over and beyond what we can 
achieve with our direct emission reductions, in line 
with the Net Zero criteria of the Science Based Targets 
initiative.  NCS cover nature-based conservation, 
restoration and improved land management actions 
that increase carbon storage and/or avoid greenhouse  
gas emissions. 
When we made our first net zero commitment 
in 2018, we were adamant not to use offsetting to 
ensure full focus on real decarbonisation, and this 
remains without question our prime objective.  
Today, the sentiment around offsetting is changing, 
and NCS is seen as an important part of the solution 
to the climate emergency5. This is also reflected 
in the recommendations from the Science Based 
Targets initiative (SBTi): real emissions abatement 
is a clear first priority, and offsets do not count 
to reach a target. However, SBTi recommends 
that firms compensate for emissions beyond the 
abatement targets to deliver net zero. 
Maersk follows strict principles for the use of NCS: 
• NCS will not be used to reach science-based targets 
with the exception of the use of carbon removal 
(referred to as neutralisation by SBTi) to neutralise 
residual emissions in the 2040 net zero year in 
accordance with the Net Zero criteria of the Science 
Based Targets initiative. 
• Use of NCS will only happen at company level and 
not at individual business unit/product level 
• The green products we offer to our customers will 
not be based on the use of NCS 
We intend to establish a portfolio of robust and 
third-party verified projects which will mainly consist 
of NCS such as conservation and restoration projects. 
An added benefit of NCS is the co-benefits for local 
communities and biodiversity in ecosystems they 
often create, which will enable us to contribute to 
our other important environmental and social goals 
through our NCS portfolio. We will also dedicate 
a part of the portfolio for other carbon removal 
solutions to help scale the market for these.
5     In a recent report, the World Economic Forum and McKinsey assess that there is a practical abatement potential of 7 Gt CO₂ per year from NCS projects, which is sufficient to deliver around one-third of the 23 Gt CO₂ reductions per year needed to reach the 1.5°C pathway by 2030.
2021, Maersk Growth made minority investments in 
three start-up companies that typify the innovation 
needed across the value chain to develop available, 
cost-competitive sustainable fuels: 
• Prometheus Fuels – direct air capture-technology 
that combines renewable energy, water, and air 
into cost efficient, green electro-fuels.
• WasteFuel – turning unrecoverable agricultural 
and municipal waste into sustainable aviation 
fuel, green bio-methanol and renewable  
natural gas.
• Vertoro – developing liquid lignin technology, 
from sustainably sourced forestry and 
agricultural residues, which can be used as a 
marine fuel.

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Environment | Climate change
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Decarbonised logistics and services on land
While our landside footprint currently constitutes 
5.7% of our total GHG footprint, it is an area 
of growing significance for our business, our 
customers and society in general. 
Compared to ocean emissions, Maersk's position 
in working with emissions from Logistics and 
Services solutions differs significantly. Most 
services are regional with varying regulations and 
local conditions, and we are in most cases not the 
asset owner. Hence, the toolbox is more complex 
and our role to lead the transition will require 
regional and product-specific adaptations, enabled 
by improved emissions data and analytics and 
certification.
In 2021, we have set up an Inland decarbonisation 
programme with the aim to serve our customers 
with end-to-end decarbonised logistics solutions. 
The most important products from an emissions and 
customer perspective are 1) landside transportation 
Decarbonisation of inland logistics and service offerings
Landside transportation  
(truck, rail, barge)
We aim for 100% green landside transportation solutions in 2040. We will achieve this by: 
• Efficiency measures and continued promotion of modal shift from truck to lower emissions transport modes like rail and barge.
• The advancement of clean fuel alternatives and electrification in heavy-duty trucking. In 2021, we started the first pilots with biofuels and 
battery-electric trucks in collaboration with customers. 
• Scouting for innovations and new business models, and by building on strong partnerships with our existing carrier network. Maersk Growth’s 
investment into Einride was one important step in this direction. 
From 2022 onwards, we will expand our offerings stepwise, aiming to launch a standard product offering third-party verified emission-reduced 
transport and engaging actively in developing the infrastructure and green transport networks across the globe.
Contract logistics  
and cold chains
We own and operate a large number of warehouses, depots and cold stores across the globe, and aim to provide 90% green contract logistics 
operations across scope 1 and 2 by 2030. This requires a combination of many technologies, including energy efficiency optimised buildings and 
operations, fully electrified equipment indoors and electrified or clean fuel equipment outdoors, renewable energy installation, non-fossil based 
heating, and charging or clean fuelling infrastructure for transport vehicles, changing to lower climate-impact refrigerants, opting for sustainable 
building materials, and using sustainable packaging materials.
From 2022 onwards, new sites and long-term leases will be built to serve a low/zero-carbon business, aspiring to LEED 'Platinum', BREEAM 
'Excellent' or equivalent accreditation. Meanwhile, we are also launching a global retrofitting programme of our existing footprint together with our 
vendors and partners.
Air freight
Air freight – in comparison to maritime, rail or road transportation – is by far the mode with the highest emissions intensity. Still, the global air 
cargo volume is expected to grow. For our customers and society, we are committed to building a sustainable air freight business, ready for the 
future and net zero in 2040. This ambition is based on two main pillars:
• Fleet efficiency: We will expand our own aircraft fleet with technology that is above industry-average in fuel efficiency. Our recent order of two 
planes offers 17 percent better fuel efficiency and reduced GHG emissions compared to legacy airplanes. 
• Sustainable aviation fuel (SAF): For 2030, we commit to a minimum of 30% of our Maersk air freight offerings transported with SAF. We will 
achieve this with strong partnership with our carriers and synergies from our green fuel development activities.
(medium/heavy duty transport by truck, rail or 
barge), 2) contract logistics (warehouses and 
depots) and cold chain, 3) air freight and 4) 
emissions transparency. Each of these have very 
different solutions in terms of decarbonisation, 
and we work to find the right answers for Maersk, 
society and our customers. We also reinforce 
our 2040 commitment with aspiring and clear 
ambitions for 2030 in contract logistics, cold chain 
and air freight. See table below. 
Working in these areas, transformational action 
and customer solutions require fully transparent 
and reliable emissions data, which can be credibly 
analysed and certified by an independent third 
party. Given that granular scope 3 emissions data 
remains a challenge not only for Maersk but 
the industry as a whole, we will develop a more 
comprehensive set of KPIs and targets over the 
next years to report on dedicated initiatives across 
the value chain.

A roadmap for net zero terminals
Our network of owned and operated port terminals 
connects our ocean and our landside activities.  
We want to claim leadership in decarbonisation 
within the terminal industry and achieve net zero 
in 2040 along with the rest of our business. By 
2030, we are committed to around 70% absolute 
reduction of GHG emissions for scope 1 and 2. 
In 2021, we have embedded decarbonisation into 
the terminal business’s core strategy and  
have developed an ambitious roadmap to 
decarbonise, based on both ongoing and new 
activities. We have so far identified reduction or 
elimination solutions for a substantial share of  
our emissions from terminals through use of 
available and proven technologies. Our efforts 
A.P. Moller - Maersk      Sustainability Report 2021
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Progress on ESG
Data and assurance
Environment | Climate change
24
range from energy consumption optimisation  
to reduce fuel and electricity consumption, 
improved electricity sourcing and conversion to 
renewable energy solutions when possible, and 
transitioning to using green fuels.
Finding adequate solutions for the remaining 
amount will require close collaboration and 
investment with our suppliers and partners. We are 
currently exploring opportunities to co-develop 
wind/solar farm options for specific terminals, and 
discussing options for green energy supply with 
local governments. 
Decarbonising strategic businesses
Svitzer, a towage operator and part of A.P. Moller 
Maersk, provides its services in harbours, rivers 
and canals in more than 30 countries around the 
world. In 2021, the company took an important 
step towards green product offerings. Following a 
successful pilot, 10 Svitzer tugs operating on the 
Thames River in London are now powered by a 
marine biodiesel and sold to customers as Ecotow. 
Calculations estimate that Ecotow will reduce 
greenhouse gas emissions by about 90% on a 
lifecycle basis. Ecotow is also offered to global 
customers as an insetting opportunity for 
fossil-fuelled towage elsewhere in their value 
chain. As part of Svitzer's strategy it invests in 
vessel designs using green fuels to drive down 
emissions. In addition to Ecotow this includes a 
methanol fuel cell tug project. Svitzer's targets for 
decarbonisation are to achieve a 50% reduction in 
vessel emission intensity from 2020 to 2030  
and net zero emissions by 2040. 
Supporting offshore activities in the energy 
sector, Maersk Supply Service (MSS) is invested 
in decarbonising its industry. Key levers in MSS's 
roadmap are technical upgrades, digitalisation  
and a solid energy efficiency mindset across 
the fleet as well as use of biodiesel. In 2021, 
the company purchased a new hybrid battery 
solution upgrade that will be installed at a vessel 
dedicated to anchor handling. The hybrid battery 
chosen is designed for reduced vessel emissions, 
reduced maintenance and increased operational 
performance. MSS are pursuing targets to reduce 
CO₂ emissions by 50% by 2030 from a 2018 
baseline and to be net zero by 2040.
Decarbonising terminals 
Benefit to local communities 
through decarbonisation of 
the broader port ecosystem
Installation of on-site 
renewables
Zero-emission shore power 
for vessels at berth
Reduce direct emissions 
through switch to green fuels
Gate automation 
Biodiesel refueling 
Electric vehicle/truck charging 
Maximise rail 
opportunities
Hybrid/electric container 
handling equipment
Switch to green 
electricity

A.P. Moller - Maersk      Sustainability Report 2021
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Data and assurance
Environment | Climate change
25
1%
56%
93%
7%
SCOPE 1: 
OWN OPERATIONS
Bunker fuel
Other
44%
11,117
1,315
2,871
8,386
Direct emissions coming from our 
financially controlled operations.
93% of our scope 1 emissions 
come from our ocean operations (fuel use). 
(2020: 96%)
36,863 (1,000 tonnes CO2 eq) (2020: 33,902)
Emissions created in the value chain as a result of 
Maersk's business activities, including emissions from 
cargo transported under vessel sharing agreements and 
sourcing of marine fuels to third-party customers.
28,952 (1,000 tonnes CO2 eq) (2020: 27,287)
The main activities driving our value chain emissions are:
Emissions from the generation of 
purchased electricity.
61% of our scope 2 emissions come 
from our terminals.
310 (1,000 tonnes CO2 eq) (2020: 289)
SCOPE 2: 
PURCHASED ELECTRICITY
(location-based)
SCOPE 3: 
VALUE CHAIN
Upstream transportation and distribution:
11,117 (1,000 tonnes CO₂ eq) (2020: 11,224)
Use of sold product:
8,386 (1,000 tonnes CO₂ eq) (2020: 8,782)
Purchased goods and services:
2,871 (1,000 tonnes CO₂ eq) (2020: 2,248)
Capital goods: 1,315 (1,000 tonnes CO₂ eq) (2020: 363)
See the detailed overview of Maersk's GHG footprint 
2021, incl. data on all 11 GHG categories applicable to 
Maersk in the ESG Data table which can be downloaded 
from Maersk.com
66,125
(1,000 tonnes CO₂ eq)
2021
GHG footprint:
A detailed overview of our emissions footprint  
is critical for guiding decarbonisation efforts. 
For Maersk, such an overview establishes the 
sourcing, trading and use of marine fuels as the 
primary source of our greenhouse gas emissions. 
Compared to our scope 1 and scope 3 emissions, 
our indirect emissions from the generation of 
purchased energy (scope 2) are negligible. In actual 
terms, however, these emissions merit attention 
and are addressed in our terminals.
The evolving science of scope 3 
In 2021, as part of the work to review and expand 
Maersk's decarbonisation targets to cover all 
emission scopes, we implemented significant 
improvements to our methodology and data 
collection for scope 3 emissions calculation. 
This deep-dive exercise revealed scope 3 
emissions in some business areas that were not 
captured in the analysis made in the two previous 
years. Specifically, this includes emissions from 
Our greenhouse gas emissions footprint
marine fuels purchased by Maersk Oil Trading and 
resold to third parties. 2020 data is restated below 
and in the Performance data on p. 55. The addition 
of this category alters the relative distribution of 
emissions between scope 1 and scope 3 in Maersk's 
overall GHG footprint. Consequently, to align with 
requirements from the SBTi, we will be setting a 
dedicated target for scope 3 emissions, when the 
shipping sector guidelines are finalised. 
Scope 3 methods are constantly evolving, and we 
continuously strive to provide more accurate data. 
As the methods and data improve, results can also 
be expected to be adjusted in the future.

Policy frameworks to accelerate change
While our size and position enable us to impact  
the level of decarbonisation in the shipping 
industry, we remain highly dependent on policy 
frameworks and commitments to further 
this process. This applies to decarbonisation 
targets set by both countries, regional entities 
and international organisations such as the 
International Maritime Organization under the 
United Nations. A package of decarbonisation 
measures is needed to drive a faster switch  
from black to green solutions, and market-based 
measures such as pricing of GHG emissions  
should be an integral part of such a package.
We were pleased to see the momentum for 
green shipping and logistics at COP26 – not least 
through numerous initiatives specifically on supply 
chains that were launched by ambitious states, 
businesses and NGOs. The commitments from 
key retailers to purchase green logistics, from key 
states and companies launching the First Movers 
Coalition and the adoption of the Clydebank 
Declaration on green shipping corridors all provide 
a strong starting point for the many stakeholders 
in our industry working to create a decade of 
action to get shipping on track to deliver on the 
Paris agreement.
This momentum was regrettably not carried over 
to the critical MEPC meeting in the International 
Maritime Organization (IMO) in November 2021. 
We consider this a missed opportunity as many 
states presently support at least a net zero target 
for 2050. We need IMO to deliver to stand a chance 
to decarbonise shipping and we need progress 
now. It is time for ambitious states to be more 
forceful and direct. The global shipping community 
– shippers, investors, bankers, shipowners, 
authorities and many more – stand united in 
calling for regulation. Maersk will continue to 
engage closely with IMO states to secure progress 
before the next IMO meeting in June 2022.
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Environment | Climate change
26
Launch of the First Movers Coalition, of which Maersk is a founding member, at the UN Climate Conference COP26 in Glasgow.
The solution must be a package of measures 
centred around:
• A global standard for accounting for the life-
cycle greenhouse gas emissions from marine 
fuels (securing the needed production of the 
new fuels)
• A 'drop dead' date to mark a future deadline for 
the building of fossil-fuelled ships;
• A global fund and GHG price to secure just 
transition (i.e. channelling support to developing 
countries);
• Definition and deployment of green corridors;
• Enhancing the IMO data collection system and 
ensuring it is transparent 
Regional measures as a needed stepping stone
With the publication of the Fit for 55 package, the 
European Union has advanced its ambitions to 
make Europe the first climate-neutral continent 
by 2050 and deliver the EU's 2030 emissions 
reduction objective of at least net 55%. Maersk 
fully supports the EU's ambitions and not least the 
multi-pronged approach whereby proposals are put 
forward to address the production of the right fuels 
(Renewable Energy Directive), the use of the right 
fuels (FuelEU Maritime) and the right behaviour 
from shipping companies (Emissions Trading 
System). It is, however, imperative that the many 
proposals in the Fit for 55 package complement not 
only each other but also the work at IMO level. 
Maersk therefore welcomes the fact that the 
EU has acknowledged the importance of fuel 
lifecycle assessments as well as included in several 
proposals all relevant GHG emissions (i.e. methane 
and nitrous oxide). The EU must now evaluate 
how best to use these initiatives to support the 
development of mid and long-term measures at 
IMO, as EU measures will at best be able to address 
15% of the emissions from maritime transport.
Driving change through pricing
Economists and climate experts agree that the 
most effective way of driving the green transition 
of society is to put a price on emissions. 
We believe IMO should take steps to introduce  
a greenhouse gas price phased in over a couple  
of years by 2025 to reach a price level covering  
the competitiveness gap between fossil and 
renewable fuels. 
A fair estimate of this gap would be at least  
450 USD per tonne fuel, i.e., at least 150 USD 
per tonne CO₂ equivalent, in the medium term at 
current oil price. 
Equally important all greenhouse gases must  
be considered. Fuel assessments should be based 
on a full life cycle analysis, or we would risk 
pushing shipping's emissions to elsewhere in  
the supply chain. 
Revenues collected from this market-based 
measure will be unprecedented and should be 
recycled into R&D investments in green fuels  
and improved resilience into logistics chains

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Environment | Climate change
27
The EU taxonomy is a classification system 
identifying environmentally sustainable  
economic activities. In accordance with the 
requirements, for 2021 Maersk is reporting 
against the EU taxonomy for the first time on 
the share of revenue, CAPEX and OPEX that are 
'taxonomy-eligible' (see table). Eligible activities 
are activities that are covered by the taxonomy, 
irrespective of whether these activities meet  
any or all the technical screening criteria stated  
in the taxonomy.
The KPIs show that Maersk holds great 
potential to contribute significantly to the green 
transition, with 94% of revenue, 93% of CAPEX 
and 90% of OPEX reported as taxonomy-eligible. 
EU taxonomy reporting
However, since Maersk is at the beginning of  
its end-to-end decarbonisation journey, it is  
likely that a significantly lower share of activities 
will comply with the substantial contribution 
criteria outlined in the taxonomy. While Maersk 
therefore expects to report a low share of 
taxonomy-aligned activities from 2022, there 
is significant opportunity to increase the 
alignment as the company progresses on its 
decarbonisation pathway.
The eligible activities in Ocean mainly relate 
to ocean container transport and associated 
services. For Logistics and Services, eligible 
activities include road and rail freight, intermodal 
transportation and services and land-based 
infrastructure such as warehouses and 
distribution centres. In Terminals & Towage, 
all operations are eligible as considered 
as infrastructure supporting ocean-based 
transportation. In Manufacturing & Others, only 
a small part of Maersk Line Limited activities 
relating to roll-on roll-off activities are eligible.
Maersk’s non-eligible activities mainly relate 
to airfreight (Star Air), sourcing of marine fuels 
(Maersk Oil Trading), offshore oil and gas services 
(Maersk Supply Services) and manufacturing 
and servicing of containers (Maersk Container 
Industry). For more on Maersk’s taxonomy 
reporting, please refer to the accounting policies 
section on p. 56.
across the world with focus on supporting 
developing countries. 
It would be unfortunate if these revenues ended 
up funding existing technology, were used as state 
subsidies to shipping companies or simply became 
a tax on shipping. Instead, part of the revenue 
should be specifically earmarked for 'just transition' 
initiatives in developing countries which may or 
may not be directly linked to shipping.
The need for a just transition
Addressing the climate crisis requires a massive 
shift across systems in the ways the global 
economy and society operate, physically, 
economically and socially to reach net zero GHG 
emissions by mid-century or before. The necessary 
change will simultaneously create new jobs and 
opportunities, but at the same time, the transition 
is likely to spur significant job displacement and 
new migration patterns. Ensuring that the energy 
transition is a just transition is paramount.
We understand the risk that our ambitious 
and accelerated decarbonisation strategy can 
cause unintended impacts on peoples’ rights, 
including jobs displacement and new supply 
chains (for example sourcing of biofuels) affecting 
communities. In addition, as demand grows for 
renewable energy sources, including solar and 
electric batteries, we will be contributing to the 
increasing global pressure on these developing 
supply chains. 
As we accelerate our decarbonisation efforts 
and navigate the emerging challenges, we will 
incorporate a human-centred approach to 
decarbonisation, adhering to international human 
rights standards and continue to engage with 
stakeholders – workers, unions, local communities, 
governments, civil society, and multi-stakeholder 
initiatives – to understand the issues and avoid 
or mitigate any negative impacts. We will also 
continue to engage in policy debates and support 
initiatives that leave no one behind.
Segment
% of Group based  
on revenue
Economic activities covered by the taxonomy
Revenue 
CAPEX 
OPEX 
Ocean
76%
• 6.10 Sea and coastal freight water transport
• 6.16 Infrastructure enabling low carbon water transport
97%
99%
96%
Logistics & Services
16%
• 6.2 Freight rail transport
• 6.6 Freight transport services by road
• 6.15 Infrastructure enabling low-carbon road transport and public transport
79%
67%
79%
Terminals & Towage
6%
• 6.10 Sea and coastal freight water transport, vessels for port operations and 
auxiliary activities 
• 6.16 Infrastructure enabling low carbon water transport
100%
100%
100%
Manufacturing & Other
 2%
• 6.10 Sea and coastal freight water transport, vessels for port operations and 
auxiliary activities
9%
0%
5%
Consolidated
100%
94%
93%
90%
Taxonomy-eligible activities  
as share of
A.P. Moller - Maersk taxonomy reporting for 2021

We are committed to providing transparency on 
greenhouse gas emissions across all scopes, our 
transition pathways, and climate-related risks and 
opportunities. The key framework which guides 
our reporting on the latter is the TCFD (Task Force 
on Climate-related Financial Disclosures). For 
an overview of TCFD reporting, please see the 
TCFD Index in our ESG data table, which can be 
downloaded from our website.
Decarbonisation mitigates material  
transition risks 
In 2020, we conducted a strategic review to 
analyse the likelihood and implications of different 
scenario pathways for global warming (1.5, 2, 3 
and 4 degrees) and how these might impact global 
demand and key sectors. This review confirmed 
the urgency of mitigating the transition risks 
to our own business (e.g., in relation to policy 
changes, technology, and carbon pricing and 
adoption) and of capturing opportunities to 
stay relevant in the market by supporting our 
customers to decarbonise their supply chains. It 
also confirmed the risk of not decarbonising our 
end-to-end supply chain at a speed that matches 
our customers' and investors' expectations, as a top 
enterprise risk to Maersk, and that decarbonisation 
holds significant opportunity to develop green end-
to-end logistics offerings for our customers. 
We manage the risks and the opportunities 
through our decarbonisation programme as 
reported in this chapter, and with clear governance 
as outlined on p. 12.
Assessing weather-related disruption and 
damage costs
As Cyclone Tauktae struck the West Coast of India 
in May 2021, our port terminal, Pipavav, in the area 
was both directly and indirectly impacted, resulting 
in diminished capacity to the terminal for almost 
two months and approximately 20m USD costs in 
disruption and damages.
With the increasing prevalence of exactly this 
kind of extreme weather event – hurricanes and 
storms, as well as flooding, heatwaves and water 
stress, it is clear that the physical impacts of 
climate change may affect both our land-based 
assets and operations and the supply chains we 
operate. We know this from a hotspot analysis 
performed and reported on in 2018 and 2019. 
The strategic review in 2020 also estimated that 
a significant proportion of global container trade 
could be impacted. In 2021 we initiated an in-depth 
analysis of this risk, including how physical climate 
change will impact our land-based assets, the 
non-owned extended infrastructure we depend on 
to deliver our services, our business verticals and 
trade flows, and what opportunities may result. 
The first phase of this analysis assessed the 
impact of disruption including damage costs on 
107 key land-based assets (terminals, logistics 
centres, shared service centres and data centres) 
and extended infrastructure, relative to three 
climate scenario pathways: a present, middle-
of-the-road 'Stated Policy', scenario aligned with 
stated government policies (approx. 2.5 degrees), a 
more aggressive 'Paris-aligned' emissions pathway 
aligned with a 2 degrees scenario, and a 'No Policy' 
scenario resulting in a pathway leading to above 
3 degrees warming. The study was performed by 
the Cambridge Centre for Risk Studies and is based 
on CMIP6 modelling aligned with the IPCC 6th 
Assessment Report from 2021. 
Impacts on our company
The study, which captures baseline risk not taking 
mitigation efforts into account, finds that the 
weather disruption and damage costs at the 
facilities are likely to increase by 30% by 2050 
as a result of climate change in the Stated Policy 
pathway. Future losses could be reduced if 
the world pursues a more aggressive emission 
pathway, or could increase if the world fails to 
achieve its current stated policy commitments.  
The variation between the scenario pathways is 
only around +/- 5%, as most of the near-term 
change in the physical system is already baked in 
from historical emissions. 
Another finding is that coastal floods,  
windstorms and hurricanes are the key drivers 
of increased risk, with the bulk of the impact 
concentrated in relatively few high-risk, large 
terminal assets. This knowledge will be incorporated 
into due diligence, loss prevention and continuity 
planning and assessment of where additional 
mitigation measures may be needed. The current 
measures in place to mitigate weather-related 
impact to our assets are among other things local 
severe weather preparedness plans and business 
interruption delegation plans. Steps have been 
taken to dig deeper into the climate-related risk for 
terminals and warehouses and articulate specific 
mitigating actions for individual assets. 
The biggest losses will likely not stem from the 
damage to or disruption of assets themselves, but 
from the resulting disruption of the network. In 
2022, the study will continue with expanded focus 
on wider network and supply chain impacts.
Climate-related risk disclosures
Aftermath of Cyclone Tauktae at APM Terminals Pipavav, 
May 2021.
Introduction and strategy
Progress on ESG
Data and assurance
A.P. Moller - Maersk      Sustainability Report 2021
Environment | Climate change
28

Four priority areas within environment and ecosystems
is to minimise negative 
environmental impacts and 
optimise our positive contributions 
to protect ecosystem health. 
We take action across four areas:  
Our aim 
where we will work towards efficient 
resource use, recovery and recycling across 
our company.
where we will reduce waste, pollution and 
emissions in the global supply chain through 
environmental management systems, global 
policies, and clear action plans.
Waste and pollution, including air emissions
Efficient resource consumption
where we will protect the ecosystems in 
which we operate and support scientific 
research and partnerships where 
synergies exist.
Ecosystem health and biodiversity
where we will ensure safe and responsible ship 
recycling of our own vessels, and work towards 
creating opportunities globally to the benefit of 
workers, environment, responsible yards and 
shipowners. We report in depth on this topic on p. 33
Responsible ship recycling 
 Environment and ecosystems
A.P. Moller - Maersk’s (Maersk) activities impact 
ocean and land-based ecosystems. The ships, 
trucks, trains, warehouses, depots and airplanes we 
use to store and move our customers’ goods emit 
pollutants to air and water and influence the living 
environments of humans and other species. 
We see ourselves as active citizens of the Earth, 
operating on the oceans and increasingly on land 
and in the air. We are committed to doing as little 
harm as possible while actively participating in 
restoring ocean and land health and resilience 
including protecting animal habitats where we 
operate. Our ESG strategy identifies four key material 
areas of impact, as shown in the figure below. 
Working in each of these areas, we assess and 
monitor the impact of our operations on the 
environment, provide relevant training for our 
employees working across our operations, and 
engage actively on environmental issues with key 
stakeholders, including customers, civil society, 
authorities and investors, and transparently report 
as possible in addition to complying with global 
environmental requirements. 
The management framework includes an 
environmental and social profiling tool and an HSSE 
due diligence process for mergers and acquisitions 
which we use to identify key sensitivities and 
vulnerabilities in potential acquisitions. Typically, 
our analyses unveil challenges within governance 
systems and the coverage of programmes as  
well as data quality.
We recognise the expectations for us to have 
externally certified management systems in place 
across our full business. This is increasingly part 
of tender requirements and in dialogues with our 
customers. In ESG ratings, it is a requirement to 
be recognised as a leading company. Our ocean-
based activities have been ISO 14001-certified 
for over a decade, and we are working to gain an 
in-depth understanding of the benefits, risks and 
opportunities from establishing a company-wide 
third-party verified system.
on our performance. Finally, we support ocean 
science in areas where we can leverage our assets. 
As the scientific understanding evolves and 
the interconnections between nature, biodiversity 
and climate change impacts become clearer, we 
recognise that to live up to our responsibilities 
and the rising expectations of our stakeholders, 
our ambitions in these areas must go beyond 
compliance and risk management. We expect to set 
more detailed targets over the coming years.
Managing growth 
Maersk projects significant growth in the number 
of facilities we operate on land, for example 
warehouses and depots, in line with the growth of 
our Logistics & Services business. We expect most 
of these facilities to be either leased or acquired, 
while we will build only a smaller share ourselves.
In 2021, we developed a corporate-wide 
management framework to establish standards 
for how we operate while doing as little harm 
8 . 8
We have a responsibility to minimise 
negative environmental impacts from  
our operations, in compliance with 
regulations, and to live up to the 
requirements and expectations of our 
customers and other key stakeholders. 
Why it matters
We see ourselves as active citizens of the 
Earth, operating on the oceans as well as 
increasingly on land. 
We are committed to doing as little 
harm as possible while at the same  
time actively participating in restoring 
ocean and land health and resilience, as 
well as protecting animal habitats where 
we operate.
We aspire to be recognised by our 
stakeholders for our commitment  
and actions.
Ambitions
Targets
We set targets and measure our progress 
through KPIs and relevant metrics which 
we transparently share with our 
stakeholders.
Please refer to each of the subject 
areas on the following pages to see 
current targets.
3 . 9
14 . 1 
14 . 3
17 . 16 
17 . 17
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Environment | Environment and ecosystems
29

6   www.weforum.org/reports/the-global-risks-report-2021
Ecosystem health and biodiversity
There is an evolving understanding of the gravity of 
the loss of biodiversity on land and in the oceans⁶ 
and there is increased global momentum in this 
field. The UN is working towards new global goals 
for biodiversity, the EU is developing standards 
for reporting on biodiversity for inclusion in the 
taxonomy for sustainable activities, and the UN 
Ocean Summit will be held in 2022. 
We recognise that biodiversity increasingly is a 
priority for our stakeholders, and we are committed 
to engaging in research and dialogue to enhance 
our understanding of our potential impacts and how 
we can contribute, including by leveraging natural 
climate solutions. We are currently most heavily 
invested in ocean-related aspects of this agenda. 
Oceans cover 71% of Earth’s surface and contain 
about 97% of its water. They redistribute CO₂ and 
heat, supply people and communities with food, 
water, renewable energy, and build livelihoods 
through tourism, trade and transport.
Our first obligation is to comply with existing  
rules and regulations that safeguard ocean 
health. For Maersk, this includes managing fuels 
or chemical substances to avoid spills into water, 
managing waste to keep it out of the oceans and 
living up to the requirements of the ballast water 
management convention. For each of these areas, 
we have policies and procedures in place to manage 
and mitigate risks. 
On top of this, we collaborate to protect and 
restore ocean health. For example, we are signatories 
to the Ocean for Climate Declaration launched 
during COP 26 and we continue our membership of 
the Ocean Stewardship Coalition (formerly called the 
UN Action Platform for Sustainable Ocean Business). 
The topic of deep-sea mining in sensitive areas was 
a subject of public debate in 2021. Maersk Supply 
Service provided marine services to a customer, 
between 2018-2021, to enable environmental 
impact and baseline assessments for deep-sea 
research. This contract has been concluded. Our 
work was conducted in accordance with ISA 
(International Seabed Authority) regulations.
Avoiding invasive species from ballast water
We comply with international conventions to 
perform pest control and install ballast water 
treatment systems on our vessels to reduce the 
risk of invasive species as we carry goods across 
ecosystems. The Ballast Water Management 
Convention (BWMC) obligates shipowners to have 
such systems installed on all vessels by 2024. We 
have completed installation on 53% of our fleet 
and are on track to comply with the full target. 
 
Operating in sensitive and protected areas
We follow all mandatory speed reduction schemes 
at sea and avoid restricted zones to reduce risk of 
whale strikes and disturbing whales breeding. In 
2021, we engaged in dialogue with WWF on this 
topic. It is an area where more research is needed 
to fully understand how underwater noise from 
ships can be reduced, and we intend to initiate a 
study together with partners in 2022. 
In our landside operations, we must ensure 
all necessary permits are in place to operate 
in sensitive or protected areas. We complete 
environmental impact assessments for construction 
projects where this is required by local laws. During 
2022, we will work to set targets and develop a  
global standard. Also in 2022, we will work to 
set targets and develop systems to allow us to 
monitor and report on compliance for both ocean 
and landside activities in marine protected areas, 
protected areas on land and areas of protected 
conservation status. 
Supporting ocean science
As an organisation committed to responding to and 
acting on science, we feel a special obligation to 
support ocean science in the areas where we have 
an impact on the environment and ecosystems. In this 
regard we see our vessels as a unique platform for 
collecting data for science. Current activities include:
• Our entire fleet of approximately 300 Maersk-
owned vessels collect and transmit weather 
data at sea as part of a project run by the World 
Meteorological Organization and UNESCO.
• Avoid invasive species from ballast water
• Avoid or minimise operations in sensitive or 
protected areas in oceans and on land
• Support ocean health through scientific 
research collaborations and partnerships 
including The Ocean Cleanup
• Avoid transport of illegal wildlife and 
endangered species
Targets - ecosystem health  
and biodiversity
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Environment | Environment and ecosystems
Progress on ESG
Data and assurance
30
The Ocean Cleanup's System 002 deployed for testing in the Great Pacific Garbage Patch.

• We partner with the World Ocean Council and 
the University of Hawaii on the Tsunami Warning 
Project, with monitoring equipment installed on 
three Maersk vessels.
• We also collect weather data for the European 
Common Automated Weather Stations 
programme, and have equipment installed at 50 
of our vessels so far.  
Going forward, we intend to actively seek to 
participate in additional relevant science projects 
where our vessels can provide a natural platform.
Dealing with banned cargo
As a provider of ocean carriage and logistics 
services, we risk unintentionally transporting 
endangered species, banned timber and 
illegal wildlife. We are committed to avoiding 
such transport and will continue to work with 
stakeholders, including NGOs, authorities and 
customers to eliminate the risks. 
We have systems and policies in place to  
avoid illegal transport and are continuously 
developing booking screening tools and 
implementing improved processes to stop or 
prevent the transport.
In 2021, we established a new policy on illegal 
wildlife trade, clearly stating our zero-tolerance 
policy towards such trade, and explaining how we 
collaborate to combat it.
Continued collaboration to clean up oceans
Maersk contributes to improving ocean health 
through our support for The Ocean Cleanup, 
which continued in 2021 with successful offshore 
campaigns in the Great Pacific Garbage Patch. For 
more on this partnership, see p. 50.
Waste and pollution
We strive to minimise the known negative 
environmental impacts related to our operations 
across all activities in Maersk. This commitment 
includes preventing spills of hydrocarbons and 
chemicals into the natural environments from our 
vessel and landside operations, as well as how 
we manage the waste we generate, and minimise 
emissions to air which include SOx, NOx and 
particulate matter. 
We can also have unintended waste impacts in 
cases where containers are accidentally lost at sea.
Two spills in 2021
We currently report on hydrocarbon spills. In 
2021, there were two uncontained spills above 
10m³, both to land, in the terminals Maarsvlakte 
2, Netherlands (15m³) and Salalah, Oman (28m³). 
Recognising that environmental impacts is an 
area with increasing disclosure expectations and 
requirements, in 2022 we intend to work towards 
setting targets and providing increased disclosure 
also including chemical spills.
Reducing emissions to air through  
global regulation
For the past two years, all ocean transport has 
been obligated to use fuels compliant with the 
International Maritime Organization’s (IMO) 0.5% 
global cap on the content of sulphur in fuels. 
Maersk considers this legislation a very encouraging 
example of effective global regulation, as it 
simultaneously fulfils its purpose of improving the 
air quality in coastal zones and is enforced in a way 
that keeps the commercial playing field level. The 
key enforcement mechanism is a ban on carrying 
non-compliant fuels on vessels. While port state 
controls were affected by COVID-19 in 2021, the 
reports received show that very few violations of 
the ban were found and that even fewer of these 
were intentional. 
The other accepted compliance application is to 
install scrubbers on vessels to clean exhaust gases. 
The use of open-loop scrubber systems remains 
a discussion point. We welcome all scientific 
evidence on this matter but consider the current 
evidence insufficient to determining if a ban on 
open loop scrubbers is necessary in both coastal 
zones and open sea. The EU, some US states and 
Australia already require vessels to shut off this 
type of scrubber system when entering near-
coastal waters and switch to low-sulphur fuel. 
We have completed our scrubber installation 
programme on our vessels and have no plans to 
expand the use of these systems. 
For Maersk, SOx emissions increased to 108,000 
tonnes in 2021, up by 6% from 102,000 tonnes in 
2020, but still substantially lower than the 569,000 
tonnes emitted in 2019, the last year before the 
ban took place.
Co-founders of a new Alliance for Clean Air
Our efforts to transition to non-fossil fuels will not 
just reduce greenhouse gas emissions, but will at 
the same time reduce other harmful emissions 
to air such as SOx, NOx and particulate matter 
(including black carbon). In 2021, we emitted 
108,000 tonnes of SOx, up by 6% from 2020, and 
889,000 tonnes of NOx, up by about 7% from 
2020. We do not have systems that allow us to 
report on particulate matter yet. However, despite 
the progress made on reducing air pollution from 
shipping, the health of millions of people around 
the world is still affected by air pollution every 
year. In 2019, it was the fourth leading risk factor 
for early death worldwide. It therefore remains a 
critical issue to address. In 2021, Maersk became 
a founding member of the Alliance for Clean 
Air, which has as one of its goals to develop a 
methodology to measure emissions of particulate 
matter across scopes. In doing so, we commit to 
establish air pollution footprints on SOx, NOx, and 
particulate matter (including black carbon) during 
2022 and set ambitious targets to reduce these air 
pollution emissions with a clear action plan. Subject 
to finalisation of the methodology in due time, we 
further aim to report these figures starting with 
our Annual Sustainability Report for 2022.
Waste management challenges 
In 2021, we generated a total of 339,000 tonnes 
of waste, up from 283,000 tonnes in 2020. This is 
mainly due to the increased activity in our Ocean 
business and an increase in non-hazardous waste 
from APM Terminals. Of the 339,000 tonnes, 
216,000 tonnes is hazardous waste. 
    We reviewed and refined our procedures and 
garbage plans for both ocean and landside 
activities in 2021.
On our vessels, Maersk allows for food waste 
to be discharged at sea, but otherwise obligates 
all vessels to store waste and discard it when 
in a port with adequate facilities. However, we 
continue to be challenged by the lack of reception 
facilities in ports and the lack of transparency on 
waste management infrastructure for many of our 
landside facilities. A priority for 2022 is to gain a 
better overview of our waste supply chain across 
our business. 
Targets - waste and pollution
• Avoid spills from vessels and minimise pollution 
impacts across all operations
• Reduce air emissions impacts (SOx, NOx and 
particulate matters) 
• Avoid accidental loss of containers to the sea
• Ensure strong environmental management 
systems in place across all operations 
A.P. Moller - Maersk      Sustainability Report 2021
Environment | Environment and ecosystems
Introduction and strategy
Progress on ESG
Data and assurance
31

Eugen Maersk at APM Terminals Pier 400, Los Angeles.
7     The World Shipping Council collects data from the container industry on total global losses of containers. The 2021 report was not available at the time of this report's publication.
8     Based on water stress zones identified using the WRI Aqueduct (www.wri.org/aqueduct), accessed in August 2021.
Lost containers at sea
Starting this year we will disclose the number of 
lost containers overboard as part of sustainability 
reporting.
We report on the loss of containers to all  
relevant authorities and salvage where possible. 
In 2021, Maersk lost 962 containers at sea⁷, 
which came from two incidents in January, where 
Essen Maersk lost 727 containers overboard, and 
in February where Eindhoven Maersk lost 235 
containers. These were exceptional losses far 
above the norm. In the past decade, the only other 
exceptional year was 2014, where 553 containers 
were lost. In all other years, the losses have ranged 
from 0 to 110 as the highest, with an average across 
the decade of 30 containers lost, mainly due to 
adverse weather conditions. 
Maersk is committed to avoiding lost containers 
and we are working hard to play an active role in 
the prevention of these losses. To that end, we 
participate in the TopTier project, a joint industry 
collaboration addressing the root causes of the loss 
of containers from large vessels. 
Efficient resource consumption 
 
Managing our resources effectively, and reducing
the resource impacts from our operations, is a
topic of increased attention for our stakeholders
including regulators. Our efforts to reduce energy
consumption are managed and reported in the 
chapter on Climate change. In addition, we have 
identified two key focus areas where we intend to 
work to enhance our understanding of our impacts 
and set targets:
• Efficient resource use, recovery and recycling
• Freshwater consumption in water-stressed areas
Our water usage increased in 2021 from 
1,736,000m³ in 2020 to 1,834,000m³ driven by 
the growth in the Logistics & Services business. 
In 2021, our Terminals business piloted a new way 
of consolidating water consumption data across 
different water stress zones⁸ (see figure below). 
This new approach identified that around half of 
our terminals’ water use is in high and very high 
water stress zones in 2021. This context provides a 
better understanding of the risk of water use in our 
Terminals business and enables teams to prioritise 
and manage these risks. In 2022 we will expand this 
approach to all our landside operations.
Water consumption in water stress zones, Terminals business
500
Water Stress Zone
Low
Low to medium
Medium to high
High
Very high
51
177
61
2021 Consumption (1,000 m³)
400
300
200
100
0
484
297
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Environment | Environment and ecosystems
Progress on ESG
Data and assurance
32

Alang impact assessment
The study covers the period 2017-2021, during which 14 Maersk ships were responsibly recycled at six Alang yards engaging more than 1000 workers.
Our engagement
Health and safety
Environment
Labour and human rights
Wider Alang development
Over 2,950 man-days of supervision
Over 82,000 m2 impermeable floor 
established at yards
Over 1,300 workers' homes made  
ILO-compliant
Over 62,200 consultations in  
Mobile Health Unit
Over 5,800 laboratory tests
Over 4,350 trainings 
20 heavy-duty cranes installed
Improved social security standards and working 
conditions
Over 5,000 workers part of  
health awareness training programme
Over 40 Lloyd’s Register audits
Over 35 environmental tests
Over 35 Maersk responsible procurement audits
The impact
Zero fatalities
Zero lost time injuries
Zero spills and hazardous materials 
incidents
Improved living standards
Enhanced healthcare access
Minimised environmental impact
Improved labour management and  
social security standards
Improved health awareness and outcomes
In spite of many shipowners having policies for 
responsible ship recycling, nearly 90% of the 
gross tonnage recycled is done under poor health, 
safety and environmental conditions. As global 
ship recycling volumes9 are set to nearly double 
by 2028 and quadruple by 2033 there is an urgent 
need to ensure that this growth in demand for ship 
recycling services will be met by suppliers with 
responsible practices. 
Over the past six years, Maersk has recycled 
16 vessels in seven yards in Alang which is one of 
the three locations in South Asia where around 
20%10 of the world's tonnage is sent for recycling. 
Playing the role of a catalyst, our engagement in 
the area has driven a transformational change 
in the Alang ship recycling industry. Over 90 
of around 120 operational yards in Alang have 
voluntarily invested to be compliant with The Hong 
Kong International Convention for the Safe and 
Environmentally Sound Recycling of Ships (HKC), 
though this is still pending entry into force. Maersk 
vessels are recycled in accordance with the Maersk 
Responsible Ship Recycling Standard (RSRS), which 
is a stringent interpretation of the HKC and our 
responsible procurement programme.
Progress and activities in 2021
In 2021, we placed two vessels for recycling with 
yards in Alang, and completed recycling of three 
vessels. We continued our audit regime that 
encompasses a screening of partners, full-time 
presence by Maersk staff on the ground and 
external verification audits. 
Despite COVID-19-related challenges in 2021, 
our yards engaged in safe, environmentally sound 
and RSRS-compliant recycling operations. As in 
previous years, external audits continued after 
landing a vessel in a yard, including one that we 
engaged with for the first time, until only one 
finding related to excessive overtime remained. 
This is a challenge in many industries and 
geographies with migrant workforces.
Responsible ship recycling
9     Sustainable Shipping Initiative - Exploring shipping's transition to a circular industry, June 2021 (www.sustainableshipping.org/resources/shippings-transition-to-a-circular-industry/)
10      2021 Annual List of Ships Scrapped Worldwide (Excel), NGO Shipbreaking Platform, February 2022 (shipbreakingplatform.org/platform-publishes-list-2021/)
Only a small share of all vessels globally  
is recycled responsibly. The projected 
growth in demand for recycling capacity 
for very large vessels add to the urgency 
of creating new opportunities for 
responsible practice-driven, financially 
viable recycling. As a leader in the shipping 
industry, we have a responsibility to use 
our leverage to make a positive impact.
Why it matters
Ensure safe and responsible ship recycling 
globally to the benefit of workers, 
environment, responsible yards and  
ship owners.
Ambitions
Targets
• Create opportunities for responsible 
ship recycling of post-panamax ships 
globally
• Work with industry stakeholders 
to support yards globally, including 
non-OECD countries, to achieve EUSRR 
compliance and thereby increase 
actual capacity on the EU List
• Continue development of the wider 
Alang area
• Actively support the Ship Recycling 
Transparency Initiative scale-up work 
and raise the profile of transparency 
• Identify Maersk's role in decarbonising 
the global steel value chain by 
leveraging ship recycling volumes in 
the long term
8 . 8
14.1
17.16
A.P. Moller - Maersk      Sustainability Report 2021
33
Introduction and strategy
Progress on ESG
Data and assurance
Environment | Responsible ship recycling

11      Proposal for a new Regulation on waste shipments, November 2021 (ec.europa.eu/environment/publications/proposal-new-regulation-waste-shipments_en)
12     Report on the European List of Ship Recycling Facilities, BIMCO, December 2020 (www.bimco.org/-/media/bimco/ships-ports-and-voyage-planning/environment-protection/recycling/updated-report-on-the-european-list-of-ship-recycling-facilities-december-2020-final.ashx)
13      Decarbonization challenge for steel–McKinsey & Company, June 2020 (www.mckinsey.com/industries/metals-and-mining/our-insights/decarbonization-challenge-for-steel)
We also updated the impact study of our 
investments and activities in Alang. The study 
covers 14 vessels recycled between 2017 and 2021, 
as well as our access to health efforts in the wider 
Alang community. See the table on p. 33.
The mobile health unit, which we have supported 
since 2018 to improve healthcare access in the 
wider Alang area, provided nearly 15,400 health 
visits and 1,050 laboratory tests in 2021. The 
training programme, supported since 2019, raised 
awareness on hygiene, substance abuse and 
sexually transmitted diseases continued, and to 
address the evolving needs of the community,  
an additional training module on material  
handling and ergonomics was introduced and  
skin camps organised.
Regulatory landscape: still challenging
During 2021, the regulatory landscape for ship 
recycling changed as some gaps in the EU Ship 
Recycling Regulation were closed. However, 
challenges remain and pose a risk to having the 
right solutions ready in time. 
What was reconciled in 2021 was the uncertainty 
related to the effect of the 2019 entry into force 
of the Basel Convention on export of hazardous 
waste. Were it to supersede the EU Ship Recycling 
Regulation, this could effectively hinder non-
OECD countries such as India from offering 
to recycle ships coming from OECD countries. 
The new EU Waste Shipment Regulation (which 
implements the Basel Convention) was published 
end-November 2021 and proposes that the EU 
Ship Recycling Regulation will take precedence 
when it comes to European flagged vessels, and to 
amend the EU regulation accordingly11. This means 
that yards in non-OECD countries will remain 
eligible for inclusion on the EU's list of approved 
recycling facilities, provided these can meet the 
requirements stated.
Creating supply for unprecedented demand
A significant part of the global shipping fleet ready 
for recycling in the next decade come from the 
post-panamax category. The name is derived from 
the fact that they are too large to pass through 
Working on the ground
The Taasinge Maersk undergoing responsible ship recycling at R.L. Kalthia (Plot 19) in Alang, India – August 2021.  
The Maersk-funded Mobile Health Unit and qualified trainer imparting health awareness training to the workers.
the Panama Canal, and they are also too large to 
be responsibly recycled at the vast majority of the 
world's currently available recycling facilities.
Given this challenge, it is crucial that we engage to 
create responsible ship recycling opportunities  
for mainstream, commercial, post-panamax vessels 
globally. We need to begin to send demand signals 
and lead the creation of new opportunities for 
responsible ship recycling. In 2021, we progressed 
our ongoing dialogues with global players 
and assisted with research and technological 
developments, building the business case and 
performing due diligence for potential sites. 
Compounding this urgency is the delay in 
including yards in non-OECD countries in the EU 
List – which lists yards allowed to recycle vessels 
registered in EU countries. The fact remains that 
very few yards included in the EU List are capable 
of handling post-panamax vessels, and that 
even fewer wish to accept commercial vessels 
for recycling as their current activities are more 
profitable. This was confirmed by a 2020 study 
by the Baltic and International Maritime Council 
(BIMCO)12. 
Uniting for change
We remain steering group members of the Ship 
Recycling Transparency Initiative (SRTI), to which 
we were founding signatories in 2018. The SRTI 
aims to accelerate a voluntary, market-driven 
approach to responsible ship recycling and today 
has 13 shipowners across a range of vessel types 
and geographies disclosing data on their ship 
recycling policies and practices. This enables 
lenders, investors, cargo owners and others to 
make informed decisions and reward good practice 
through the market. 2021 saw an increase in the 
interest from insurance providers, allowing for 
more collaboration between shipowners and 
financial stakeholders in moving the initiative's 
goals forward. With a total of 30 signatories 
(shipowners and other stakeholders), the SRTI 
includes more than 50% of the global container 
fleet by TEU capacity.
A.P. Moller - Maersk      Sustainability Report 2021
34
Environment | Responsible ship recycling
Introduction and strategy
Progress on ESG
Data and assurance
Ship recycling's link to green steel 
Steel is one of the core engineering and 
construction materials today. However, 
the steel industry is among the three 
biggest emitters of CO₂13. Some of our 
customers are engaging on this subject 
through ResponsibleSteel, a non-profit 
collaboration developing an independent 
third-party certification programme for 
the steel value chain. Financial institutions 
and investors are focusing on the issue via 
ESG ratings and global coalitions such as 
the MSCI, Glasgow Financial Alliance for 
Net Zero, etc. While green steel does not 
exist today, the technology is maturing 
for it to be from around 2025. Steel-
scrap emerging from large vessels will 
increasingly be recognised as a viable 
raw material to produce green steel. We 
will engage with the shipping industry 
stakeholders to better understand the 
global steel value chain and how we could 
play a role in decarbonising it.

Social
A.P. Moller - Maersk's ambition is to ensure that we provide 
an engaging, safe and inclusive place to work, where we 
take action to secure that all workers have decent working 
conditions and that we continue to improve the work 
environment for all our employees. Our actions are guided by 
our values, international standards and the expectations of 
our key stakeholders. 
In this report, we report on our strategic commitments  
to safety and security, diversity, equity and inclusion and 
human capital as well as the issues of human rights, 
employee relations and labour rights.
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Social
35

Safety and security
Safety and security
A.P. Moller - Maersk (Maersk) provides jobs for 
95,000 people in over 130 countries. It is our prime 
responsibility to keep them safe and free of harm 
while they perform their work duties at sea, in the 
air, in terminals, warehouses and offices. For this 
reason alone, safety and security is one of three 
core commitments in our ESG strategy.
Keeping our employees safe from harm means 
that we must work to eliminate fatalities and 
life-altering injuries and strive for as few lost time 
injuries as possible associated with our operations.
Leading the drive to improve safety 
We firmly believe that to drive progress, the 
performance indicators we track must focus on 
the diligent implementation of robust processes 
and actions that lead to building the safety culture 
necessary to keep employees safe and secure. 
Backed by research, we find that driving change 
towards an improved safety culture cannot be 
achieved by setting zero-targets. Such targets are 
known to incentivise behaviour that is not conducive 
to open and trust-based environments that report 
and learn from safety risks and incidents. In other 
words, work environments that have the capacity 
to fail safely, meaning that even if accidents or 
incidents occur, our safety culture, processes and 
mitigating actions have the strength needed to 
ensure that no significant harm occurs. 
For safety and security, our ESG strategy 
therefore sets out targets towards 2023 on leading 
indicators for safety capacity. Reaching these 
targets requires us to invest and commit resources 
to building leadership capabilities and improving 
our safety culture: 
• We focus on High Potential Incidents as 
predictors of where there is a heightened risk 
of fatal and life-altering accidents. We are 
rolling out the use of Learning Teams across 
the entire organization, with an overall strategic 
target of ensuring that by the end of 2023, all 
High Potential Incidents will trigger a frontline 
Learning Teams follow-up to enable leaders and 
the frontline teams to learn from and prevent 
similar incidents in the future. See box on p. 37  
for more on Learning Teams and other key  
safety concepts. 
• The second strategic target is that by the end of 
2023, Maersk’s entire global leadership (Top 900 
leaders) will have gone through comprehensive 
training in the Maersk Safety and Security 
Principles that form the core of our approach to 
safety and security, enabling leaders to champion 
and effectively take on the critical responsibility 
to ensure that we are doing everything we can to 
make safe work easier. 
Loss of life sadly remains a risk 
To our great distress, four persons lost their lives 
while working for us in 2021. We can never bring 
families and friends back to their loved ones, but 
as a company we have a solemn obligation to learn 
from these tragic events. We will continue to work 
to eliminate the factors and behaviours that lead to 
such fatalities and life-altering events.
Fatalities in 2021
In 2021, we tragically lost four colleagues in our fleet and landside operations. Action has been taken in response to each incident across our global operations.
Business segment
Location
Description and learnings
Employed by
Logistics and Services
Benin
A sales executive fell to the bottom of an unmarked, faulty elevator shaft at a customer location, and died 
from his injuries. We have revised the customer visit safety protocol. 
Maersk
Logistics and Services
Tanzania 
A security guard in a Maersk depot was fatally hit by a truck operating on  
the site. We have enhanced focus on man-machine separation in our land-based operations. 
Third-party 
contractor
Ocean
South China Sea 
A seafarer disappeared from a Maersk container vessel overnight and was presumed lost at sea. A four-day 
rescue operation including five Maersk vessels was not able to locate the seafarer. We have carried out a major 
project to improve procedures and safety equipment on board vessels. Improvements include life vests with 
electronic tracking.
Maersk
Ocean
Weser River,  
Germany
A seafarer preparing the gangway for arrival was pulled overboard as it came loose from its stowed position 
causing the victim to fall overboard. Despite intense search and rescue efforts by six vessels and a helicopter, 
the seafarer could not be found. Follow-up on this incident was included in the above-mentioned project.
Maersk
Progress on ESG
Data and assurance
Safety and security at work is a basic 
human right, and we have a duty of care 
for employees and anyone operating on 
our sites, whom we must keep safe. It is a 
Core Value and an ethical responsibility for 
us as a company towards our employees, 
their families and communities. 
Why it matters
Ambition
We ensure everyone gets home safe by 
preventing fatal and life-altering incidents. 
Targets
2021
Leading indicator targets for building 
safety capacity set for:
• Learning Team activity (to be 
completed within 40 days of every 
High Potential Incident)
• Leadership gembas (to be carried out 
according to plan)
• Critical risk projects (on-time and on-
scope delivery) 
2023
• 100% High Potential Incidents trigger 
frontline Learning Teams
• Global Leadership (Top 900) upskilled 
in Maersk Safety & Security Principles
8 . 8
A.P. Moller - Maersk      Sustainability Report 2021
Social | Safety and security
36
Introduction and strategy

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Social | Safety and security
37
Acting on our Safety and Security Principles
We want safety to be embedded into the fabric of 
our business and ensure that we have the capacity 
to manage risks under variable conditions. This 
must be enacted through leadership that engages 
with frontline employees and provides the support 
they need to make safe operations easier. 
Maersk’s approach to safety and security is 
guided by four strategic principles:
• We lead with care and will improve  
leadership capabilities.
• We learn and adapt and will build capacity  
to manage serious risks through controls  
and safeguards.
• We improve our culture of learning by  
promoting employee voice, engagement  
and knowledge sharing.
• We enhance foundations both structurally  
and operationally with simple, accessible  
tools and competent advice.
We carried out activities within each of these areas 
in 2021.
To lead with care, we conducted 16,790 Leadership 
Gembas (see box at right) where senior leaders 
engage with frontline employees to learn and 
respond to what is needed to make safe work easier. 
Connecting leaders to the reality of frontline work 
in this way was also the theme of our 2021 Global 
Safety Day, which was marked by activities across 
all areas of operation.
To learn and adapt, we delivered a number of 
critical risk projects, including on lashing injuries, 
engine fires, vessel inspections and man overboard. 
To ensure we grow our business safely, we also 
issued new global safety and security requirements 
for all our landside operations and strengthened 
our HSSE review process for new business cases, 
mergers, and acquisitions.
To improve our culture of learning, we continued 
the rollout of Learning Teams, in which frontline 
teams come together to analyse an incident, 
task or operation on which they are the experts, 
to establish where safety improvements can be 
made. By better understanding what makes human 
mistakes more likely, controls and safeguards hard 
to use, and compliance difficult to deliver, we can 
expand our capacity for safe operations.
More robust safety governance  
Finally, to enhance our foundations we continued 
the consolidation of our HSSE organisation to 
deliver one unified approach to safety and security 
across Maersk. We put in place clear governance 
structures for our work, including an updated 
Health, Safety, Security and Environment (HSSE) 
rule in Maersk's central governance system, 
Commit, and the launch of a corporate-wide 
HSSE policy and management framework. In 
line with our transformation into an integrated 
logistics company, this will ensure that our 
new business areas build on the safety culture, 
insight, experience, and high standards we have 
long developed in areas such as our marine and 
terminal operations.
As formal safety certification is increasingly 
important to our customers and other stakeholders, 
we will further explore certification needs and 
requirements through an operational and customer 
lens and deliver recommendations for next steps 
in 2022.
In front of our head office in Copenhagen, on Global Safety Day 2021, office staff tried their hand at the lashing of containers, i.e. 
securing them to the surface they stand on. Lashing is a critical process for the safety of both staff and cargo and to avoid losing 
containers at sea.
Update on legal proceedings 
As part of legal proceedings following a fatal 
accident involving a tugboat in 2019, Svitzer, 
a Maersk's business, in 2021 indicated a guilty 
plea to the two charges the company faces, 
recognising that it could have done more 
to ensure health and safety. We continue 
to cooperate fully with the authorities and 
have implemented the findings of the Marine 
Accident Investigation Branch report and 
shared these lessons across our global fleet 
wherever it has been appropriate to do so.
Maersk is adopting several innovative approaches  
to safety practice as part of our efforts to transform 
our safety culture. These share a common focus on 
engaging frontline employees to build capacity. 
A Learning Team brings together a group of workers 
who are involved in a task or operation, to learn 
from them as the experts about everyday work, by 
discussing how the work is done, what works well 
and what does not, and how they adapt to make 
the work successful. Following up on High Potential 
Incidents with a Learning Team, we can understand 
challenges experienced and the adaptations 
and improvements required to deliver safe work 
outcomes by making safe work easier.
Learning Teams and Gembas: Key approaches to build safety culture
Safety Leadership Gemba walks present an 
opportunity for leaders to connect to operational 
frontline work. This is done by continuously visiting 
where frontline work takes place to learn about 
how tasks are experienced by the frontline experts. 
By stepping into the shoes of the frontline, leaders 
gain direct operational insights and expertise on 
how work is done, what challenges are faced, how 
workers overcome those challenges and what they 
need to do to de-risk their work and reach their 
goals easier and safer. By responding to these 
needs, leaders can be the difference between a safe 
and efficient job being done or a High Potential 
Incident occurring.

Safety is also about security
Maersk has a duty of care towards our employees 
and anyone operating on our sites, whom we must 
keep safe, and towards our customers whose cargo 
and reputation we must protect. Both of these 
obligations are impacted by security risks. 
A key security risk in 2021 was piracy. We have 
been monitoring the risk of pirate attack, primarily 
off the West African coast for a number of years. 
In 2021, this risk rose to levels that demands new 
action. To ensure the security of our people and 
building on our past experiences from the Gulf 
of Aden, we increased the security measures in 
place on our vessels and in our terminals. We also 
engaged with sovereign states to move towards a 
shared solution involving deploying navy vessels 
to patrol the area. We are highly appreciative of 
the contribution by the Danish navy in this regard 
and are looking forward to more navies joining the 
effort to protect the seafarers who keep global 
supply chains running. 
We closely monitor areas of business operations 
affected by armed conflict to protect the safety 
and security of our employees and advise our 
customers. In Myanmar, Sudan and Ethiopia,  
we dedicated considerable resources to these 
efforts in 2021. Through our additional efforts,  
we have managed to keep all employees safe, 
ensure compliance with sanctions and export 
control requirements, and continue delivering  
for our customers. We continue to assess the 
situation in these locations and are in close 
dialogue with stakeholders.
Protecting employees in a time of COVID-19
COVID-19 continues to present many challenges 
to the health and safety of our employees, 
particularly for our seafarers. Among these are 
ever-changing regulations and rules, unpredictable 
travel lanes, and spikes in number of COVID cases.
Despite a UN resolution designating seafarers as 
key workers, signed by 46 countries, including many 
with key ocean shipping hubs, there are still severe 
strains being put on our people. The key worker 
designation was supposed to ensure seafarers ease 
of travel between home and vessel, as well as the 
right to disembark from their ships to seek medical 
treatment ashore. This is rarely the case, and our 
seafarers are particularly pressed by the lack of 
shore leave and lack of access to medical care, also 
if unrelated to COVID-19. As an employer wanting to 
keep its employees safe, Maersk finds the lack of 
support from authorities unacceptable. 
Maersk's overall approach to managing the 
effects of COVID-19 in 2021 was to empower local 
leaders to take the right decisions depending on 
the situation and restrictions in their area and 
region, while supporting centrally with information, 
guidance, tools and resources. 
This has resulted in enhanced measures at our 
offices and facilities, risk mapping of countries, 
guidelines on travel, information about personal 
and community health and safety precautions, 
support on working from home and mental health, 
and support for families of employees who have 
been seriously ill with COVID-19 or sadly lost their 
life due to it. 
Given the safety and efficacy of COVID-19 
vaccines, we find that getting as many employees 
as possible fully vaccinated is the best way to 
continue driving our three priorities: protecting 
our people, supporting our customers and helping 
society by keeping supply chains running. Our 
efforts towards this end include the operation of 
vaccine camps, especially in locations with poor 
vaccine access. More than 10,000 Maersk seafarers 
were vaccinated by year-end, and nearly 100% of all 
on-signing crew are now vaccinated. 
We kept business travel severely restricted and 
the few who did travel had to be fully vaccinated or 
have natural immunity to COVID-19. Furthermore, 
Maersk is implementing guidance for people to 
be either fully vaccinated or naturally immune to 
enter its facilities to ensure the safest possible 
workplaces for its people. This guidance is being 
implemented locally based on many variables 
including the local pandemic development, public 
health policy and vaccine availability, and is always 
done in full compliance with all applicable laws, 
including GDPR privacy requirements as well as all 
union and works councils agreements and contracts.
Data and assurance
Progress on ESG
Social | Safety and security
Approx. 600 seafarers and onshore colleagues got their vaccination at the Mumbai vaccination camp. 
38
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy

Human capital
We need highly engaged employees with relationship-building skills to digitise, democratise and decarbonise global supply chains.
The Global Integrator strategy results in a 
transformation of Maersk where we are 
dependent on highly engaged employees 
and significant new capabilities within for 
example technology, data analysis, 
leadership, and sales and marketing, all of 
which are areas where the competition for 
talent is fierce. 
Establishing ourselves as a leader  
in ESG can be a key enabler to attract 
talent in the 'newer' areas, where we are 
hiring to support our transformation.
Why it matters
Ambition
We aspire to create an engaging 
environment for all colleagues and to 
become a company where our employees 
can develop and have thriving careers.
Targets
2025
Top quartile score on engagement survey
4.4
A key priority in our ESG strategy is to create an 
engaging environment for all colleagues, based  
on the premise that our people are the foundation 
for our success as a company, and that we want 
everyone to continue to learn and grow. 
A.P. Moller - Maersk (Maersk) is moving through 
a transformation with changes on at least three 
fronts: from conglomerate to end-to-end logistics 
provider, from reliance on fossil fuels to industry 
leader in the green transformation, and from 
technologically conservative to digital frontrunner. 
For us to succeed in this transformation, we 
need to attract and retain talented colleagues at all 
levels, but particularly for Logistics & Services and 
to drive our digital transformation. 
One key part of our digital transformation is 
to build platforms to interact with customers. 
To support this aim, for example, in 2021 alone 
we recruited 1,500 engineering colleagues to the 
technology team. Bringing this expertise in house 
ensures that anyone who is developing such 
platforms for Maersk is fully integrated into the 
company and closely connected to our overarching 
purpose and our Global Integrator strategy.
A new people strategy
In 2021, we developed a new People Strategy 
which builds on past strengths while focusing 
on new capability areas needed for successful 
strategy execution. Our key ambition is to nurture 
a knowledge-driven organisation, capable of 
executing reliably, and made effective by the power 
of empathy. We will accomplish this through:
• A ready supply of empathic, ambitious and 
purpose and values-driven leaders who inspire 
our employees to do their very best.
• Continued investment in the development  
of all employees and outsized investments  
in areas that particularly fuel our Global 
Integrator strategy and drive customer 
outcomes.
• A strong employer brand and talent acquisition 
processes that help us attract the right skills 
from the external market. 
We are investing in these three areas and developing 
new measures for each in the coming years.
Measuring engagement
Driving up engagement, improving trust and 
revitalising our values are some of our continued 
focus areas. We have been focused on a renewed 
engagement journey for a number of years, and 
today we measure employee engagement twice 
annually. In our October 2021 survey of over 72,000 
colleagues, we were placed in the 59th percentile 
in the Gallup organisation's database of global 
companies. Since we adopted the Gallup approach 
in 2017, we have made steady and consistent 
improvements towards our goal of being a top 
quartile engaged company. Highly engaged teams 
foster strong performance and deliver better 
customer outcomes, and this priority will support 
our work to become more customer-centric and 
create an inclusive environment where everyone 
can thrive.
We have chosen a top quartile engagement 
score as our leading indicator of success in our 
work to secure the competencies we need. The 
surveys we use to measure engagement go 
beyond employee satisfaction, and also measure 
commitment, expectation and belonging. We aim 
for a top quartile score in these surveys, because 
organisations with these scores are known to foster 
environments where employees are committed 
to and invested in the organisation, know what 
the organisation expects from them, and where 
employees feel seen and heard. This is what 
Maersk needs to fulfil our strategic goals.
When survey results are available, we focus on 
securing that a solid follow-up is carried out in all 
teams across the company. We believe that each 
team will need to find its own way by conducting 
sessions to reflect and discuss team scores, design 
an improvement plan and monitor follow-up. 
Progress on ESG
Data and assurance
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Social | Human capital
39

In 2021, our first two rainbow containers, designed to create awareness of LGBT+ rights, toured the world. We are now engaging with more customers and planning a significant expansion of  
this product, with several dozen containers set to go on the road carrying specific customer cargo and visiting customer sites for their internal engagement and awareness activities.
Diversity, equity and inclusion
In 2021 we have added a focus on equity to our 
work on diversity and inclusion. With equity now on 
the agenda, we now look at diversity, understood as 
who is 'in the room', inclusion, which looks at 'how 
do we create a sense of belonging for all the people 
in the room', and equity, exploring who is trying to 
get into the room but cannot, which obligates us 
to locate the barriers and processes that might 
prevent individuals from joining our business. 
Ensuring and increasing diversity, equity and 
inclusion (DEI) in Maersk remains driven by our 
Values and the need to attract and retain talented 
employees. For these reasons, we have made the 
area of DEI a special priority in our ESG strategy. In 
addition, employees increasingly hold us accountable 
for our actions and policies to protect and further 
the rights of vulnerable groups that experience 
discrimination in society. More recently, customers, 
investors and benchmarking agencies have also 
turned their attention to how we secure DEI.
Listening to employees
In 2021, we conducted our first global inclusion 
survey. We want to ensure that our understanding 
of issues such as discrimination, harassment, 
diversity and inclusion are aligned with employee 
expectations, and to create a baseline for measuring  
the effects of our activities going forward. 
The survey measured employees’ experiences 
within seven areas: leadership accountability, 
attraction and recruitment, equitable career 
progression and development, inclusive 
environment, psychological safety, retention and 
discrimination, harassment and/or bullying.
The overall conclusion of the survey is that 
employees experience a strong culture of inclusion, 
where they feel a sense of belonging. Results also 
indicate that management commitment to DEI 
positively impacts the employee experience. 
Future priorities
The survey results also point to areas of 
improvement. For example, psychological safety is 
an area we must improve. Our future work in this 
area includes the launch of an anti-discrimination, 
harassment, violence and bullying policy. 
We will also work to ensure that we uphold 
equitable processes and practices, inspired, among 
It is a Core Value in Maersk and a basic 
responsibility not to discriminate against 
our employees. Discrimination bars 
people from living up to their full 
potential, creates inequality and less 
stable and prosperous societies. 
Moreover, we need diversity of thought to 
continue to improve and develop our 
business, and facilitating a culture where 
everyone feels comfortable and is treated 
fairly, will help us gain access to a larger, 
more diverse pool of talent. 
Why it matters
Ambition
We want to facilitate diversity of thought 
and create a more diverse, equitable and 
inclusive workplace at Maersk, where our 
employees feel able to bring their whole 
selves to work and contribute to their 
fullest. A key priority is to foster gender 
diversity as this is our largest gap and 
where there is particular spotlight on 
company performance.
Targets
Target for the Board of Directors:
Three women on the Board of Directors, if 
the Board consists of less than twelve 
members, and four women, if the Board 
consists of twelve or more members 
2025
• >40% women in management 
(Supplemented by specific targets  
for different leadership levels.  
See figure on p. 41)
• >30% diverse nationality of executives
5 . 1 
5 . 5
10 . 2 
10 . 3
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Social | Diversity, equity and inclusion
40

other things, by the fact that equitable career 
progression is scored lower than average by both 
men and women. We also saw a trend towards 
women and employees, who identified themselves 
as ethnic minorities, scoring lower across nearly 
every dimension compared to other groups.
The survey was a data-driven way to help us 
identify areas of improvement. One such area is 
how we build relevant, actionable data while still 
respecting legal frameworks on registering data  
on demographics such as ethnicity or gender. We 
also recognise that we need to continue our work 
on unconscious bias, to ensure that progress on  
our strategies and plans is not held back by  
such biases.
Gender action plan rollout
In 2021, we set new targets to be achieved by 2025 
for the representation of gender at all management 
levels. To build accountability, not only are the plans 
and targets broken down by business area with 
ownership allocated to Executive Leadership Team 
members, targets are also split on functional areas 
across the company. The targets are partnered 
with recommended actions focused on three main 
areas: attraction, retention and inclusion, and 
accountability. Other examples of how we want to 
have a razor-sharp focus on delivering on the new 
targets are new requirements for documentation 
of women considered by the executive search 
providers we use, and new processes for early 
identification of female talent.
We recognise and communicate that gender is 
just one of many areas of focus for DEI. In 2021, 
however, it is where we focused to establish 
the right processes, actions and leadership 
commitment to reach our goal.
Our target for representation of women on the 
Board of Directors (see graphic below) was met  
in 2021. The Board will continuously assess whether 
the target, first set in 2019, is still ambitious. 
While we know we need to accelerate our progress 
on gender and nationality representation at senior 
management, we are encouraged by the progress 
we have seen so far this year, with the overall 
percentage of women, women in management  
and women in leadership all increasing from 2020.
Our global maternity policy includes a target of 
reaching a 90% retention rate for women returning 
to work after maternity leave. In 2021, this was the 
case for 82% of the target group, up from 74%  
in 2020.
A new look at harassment and bullying
Our annual diversity and inclusion week focused 
on the concept of respect. Among a broad range 
of activities and announcements during this week, 
we also carried out webinars with testimonies 
from employees who had previously experienced 
discrimination and how these situations had been 
dealt with.
During 2021, cases related to harassment
and bullying in the maritime industry have been
brought to light, including some related to
Maersk. While we cannot comment on individual 
cases, we can state that the conduct and behaviour 
described in the statements made go against our 
values and everything Maersk stands for. We are 
taking all allegations very seriously. These cases 
only highlight our focus on building our capability 
in anti-harassment, discrimination, violence and 
bullying. With the planned launch of a new policy 
and mandatory training in this area, we aim to 
fulfill our commitment to zero tolerance and 
moreover to create a culture where our employees 
feel they belong.
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Social | Diversity, equity and inclusion
41
3
women 
     out of 10
Representation of women on 
the A.P. Møller - Mærsk A/S 
Board of Directors (2021)
Targets and performance on diversity 2021
Representation of women
2021
2020
Target
Executives (Job levels 8 & 9) 
30%
Senior Managers (Job level 5) 
40%
Senior Leaders (Job level 7) 
35%
Managers (Job level 4) 
45%
Leaders (Job level 6) 
40%
35%
34%
30%
30%
25%
23%
Executives (Job levels 8 & 9) 
30%
14%
11%
Representation of persons not from high-income OECD countries
15%
17%
Executives 
30%
19%
16%

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Social | Employee relations and labour rights
42
Employee relations and labour rights
A.P. Moller - Maersk (Maersk) is committed 
to respecting fundamental labour rights and 
constructive employee relations. Our commitment 
is based on core ILO conventions and internationally 
accepted frameworks from the UN and OECD, as 
well as compliance with applicable local legislation 
where we operate. Constructive employee relations 
can only exist by respecting the rights to freedom of 
association and collective bargaining, which means 
actively engaging with trade unions, works councils 
and/or other employee representative bodies. We 
manage these commitments through a rule in our 
central governance system, Commit, and policies for 
specific areas such as automation and negotiation 
of collective bargaining agreements. We have an 
Employee Relations Council that sets direction and 
monitors progress and a network of global, regional 
and local employee relations specialists. Finally, we 
provide training for all employees.
Postponed from 2020, due to COVID-19, this 
year we began roll-out of an employee relations 
training programme for line managers focusing 
on collective bargaining agreements. In addition, 
we developed an updated e-learning module for 
launch in 2022, supporting the rule on employee 
relations and labour rights in our governance 
system. This e-learning will be mandatory for all 
new employees, and there will be annual refresher 
training for all other employees. 
Crew change under control 
In 2021 we were able to reduce the number of 
colleagues who were on board our vessels longer 
than their contracts stipulated, compared to 2020. 
Out of 12,500 seafarers of 40 nationalities on 300 
vessels, an average of 180 colleagues stayed on 
board beyond their contracts. In total, 60 crew 
members went beyond 11 months on board, which is 
the limit set in the Maritime Labour Convention. The 
delays were due to COVID-19-related restrictions 
hindering crew change, for example crew relief is 
not allowed for vessels in dry dock in China. All crew 
were disembarked at the first opportunity. 
Assessing the state of labour rights
Maersk performs a company-wide labour rights  
self-assessment every two years to identify risk 
areas and to assess the level of implementation of 
internal policies and procedures. The self-
assessment in 2021 confirmed that our labour 
rights issues are mainly related to working hours, 
discrimination and compensation. Additionally, a 
rise in workplace harassment cases was noted. 
These findings support the results from our 2021 
human rights impact assessment (see p. 43). In 
2022 we will continue our efforts to strengthen 
the labour rights due diligence process to gather 
actionable insights that will help address these 
issues in our business.
203 cases related to potential violation of 
HR-related laws, rules or company values were 
processed through our whistleblower system in 
2021, 22 cases were substantiated, with 20 related 
to internal policies and procedures.
Investigating contractor conditions
We must ensure that our growing portfolio of 
warehousing and other land-based logistics 
services, including trucking, is managed with full 
respect for employee relations and labour rights. 
This includes the working conditions of third-party 
labour on our sites. In 2021, we completed four 
sample audits in terminals in Nigeria, Colombia 
and Oman. The audits show indications of issues 
in conflict with our Supplier Code of Conduct, for 
example on working hours, overtime, health and 
safety and workers’ accommodation. We also 
conducted audits at warehouses we use but do 
not own in Bangladesh. These audits resulted in 
similar findings. We have taken immediate actions 
to address all issues found. In addition, we will 
be conducting a landscape review of third-party 
labour agreements and practices across our 
terminals in 2022, with results being shared across 
Maersk and expected to lead to adjustments and 
improvements in our policies and practices. 
We are also engaged in collaborative pilot 
initiatives on responsible trucking. It is clear to us 
that improvement in labour conditions for trucking 
need to take place at an industry level (see p. 47). 
Growing and modernising responsibly
One element in our journey to integrate global 
logistics is the modernisation of some of our 
ways of working, including more extensive use of 
automated processes. 
Since 2018, we have had a set of principles to 
guide how we engage with and communicate such 
plans and changes to employees, including a focus 
on re-skilling for new job types. In 2021, we added 
to these principles that new automation initiatives 
in our terminals will go through an employee 
relations review, before final decision-making and 
implementation. We began such reviews in two 
ports with planned automation projects.
Fair and equal wage
Our values and commitments to international 
labour standards obligate us to pay fair and equal 
wages to all employees.
We are also aware of the increasing level of 
attention given to the issue of living wages as part 
of the debate on corporate touchpoints with the 
issue of inequality, and also represented in the 
ideas for an upcoming EU social taxonomy. We 
follow this area closely and will seek out relevant 
ways to engage on the issue in the years to come.
The way we treat our employees and their 
representatives is fundamental to the way 
we want to do business. This begins with 
ensuring respect for internationally 
recognised labour rights in all our 
workplaces.
Why it matters
Ambition
We offer decent, fair and equal working 
conditions and make Maersk a good place 
to work for all our people. We identify 
risks for third-party labour and implement 
mitigating and preventive actions and 
involve employees in our efforts to secure 
that our growth adequately considers our 
responsibility towards employees.
2021
• Perform four pilot audits on third-party 
labour to monitor risk and compliance
• Secure commitment and principles 
for timely involvement of employee 
representatives as our business grows 
and more automation is introduced
2023
100% of employees within Maersk trained 
in employee labour rights
8 . 5 
8 . 7 
8 . 8
16.3
Targets

Human rights in this report
Sustainable procurement p. 46
Human rights principles and 
standards related to labour.
Responsible ship recycling p. 33
Human rights principles and 
standards related to labour, in 
particular the right to life and  
the right to the highest  
attainable standard of health.
Air emissions p. 31
The right to the highest  
attainable standard of health. 
Employee relations p. 42
Human rights principles and standards 
related to labour, for example freedom 
of association and collective 
bargaining, equal treatment, child 
labour, forced labour, working hours, 
compensation, privacy, rest and leisure.
Safety and security p. 36
The right to life and the right  
to the highest attainable  
standard of health.
Data ethics p. 48
The right to privacy, the right to 
freedom from discrimination and 
the right to freedom of expression.
Diversity, equity and 
inclusion p. 40
The right to freedom from 
discrimination and the right 
to family life.
Climate change p. 27
The right to life, the right to 
work and the right to adequate 
standard of living. 
Human rights
A.P. Moller - Maersk (Maersk) is committed to 
respecting human rights, in line with the UN Guiding 
Principles on Business and Human Rights (UNGPs). 
As members of the UN Global Compact since 2009, 
we have been integrating our commitment since 
and reporting our progress on our website and in 
sustainability reporting. 
Human rights are managed across many different 
business areas (see overview below) and governed 
through the central governance framework, Commit. 
In addition, human rights as a cross-cutting topic 
is governed via our ESG governance framework 
(see p. 12). We engage regularly with stakeholders, 
including rightsholders, on how we manage our 
human rights responsibilities.
Preparing for mandatory requirements
In 2021, we formalised our commitment to respect 
human rights by publishing Maersk's Human Rights 
Policy statement on the sustainability website on 
Maersk.com. The statement complements existing 
commitments to respect human rights as outlined 
in our Employee and Supplier Codes of Conduct. 
We have also firmly anchored the topic of human 
rights in the new ESG governance framework, 
ensuring human rights risk assessments are 
conducted regularly and issues can be escalated 
when relevant. 
These measures serve to strengthen our 
human rights programme and prepare Maersk for 
continued compliance with increasing regulatory 
measures based on the UN Guiding Principles, and 
documentation requirements brought about by the 
implementation of EU regulations on sustainable 
finance, corporate reporting and mandatory due 
diligence in value chains.
Re-determining our most salient risks
In 2021, we performed a corporate-level 
human rights assessment with a third-party 
provider, reviewing our business operations and 
relationships to refresh our understanding of 
our potential and actual human rights risks and 
impacts across the company’s value chain. We 
consider this an important step at a time when 
Maersk’s evolution to an integrated transport & 
logistics company is also transforming our human 
rights risk profile. 
The issues identified as most salient across  
our value chain are health & safety, working 
conditions (wages, benefits and hours), modern 
slavery and access to remedy. In addition, there 
are emerging issues linked to data ethics and just 
transition. In 2022, we will define and prioritise 
areas for action. Some of these activities will 
include continued efforts to improve due diligence 
on high-risk suppliers and strengthening our 
grievance mechanisms.
Integrating human rights in due 
diligence processes 
In 2021, we continued to integrate human 
rights issues into existing due diligence 
processes. Some of these efforts included:
• Incorporating questions on community 
impacts in our environmental screening of 
M&A opportunities.
• Strengthening or efforts to capture human 
rights relevant risks in third-party due 
diligence. 
For 2022, we will continue this progress, using 
the recommendations from the corporate-
level human rights assessment as a guide, and 
communicate developments on our website.
Many aspects of our business touch on 
human rights, including our employees' 
working conditions, health and safety, 
how our vessels are built, how we use 
digital data and technologies, and our 
suppliers' business practices. Our conduct 
within our own business and through our 
business relationships can therefore have 
a significant impact on society, both 
positive and negative. Further, increasing 
regulation and growing expectations from 
our stakeholders confirm that human 
rights is a material topic for Maersk.
Why it matters
Targets
2022
• Develop action plans addressing the 
salient human rights risks identified in 
the human rights assessment
• Formalise Maersk's human rights 
governance framework
Ambition
Continue aligning our business practices 
with the UN Guiding Principles, and ensure 
that human rights considerations are 
integrated into our due diligence processes 
and ESG governance mechanisms.
8 . 5 
8 . 7 
8 . 8
16.3
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Social | Human rights
43

Governance
In this section, we report on A.P. Moller - Maersk's  
strategic commitments to business ethics,  
sustainable procurement and data ethics, and  
the topics of responsible tax and citizenship.
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Governance
44

Business ethics
A.P. Moller - Maersk's (Maersk) ESG strategy takes 
a broad perspective on business ethics, looking at 
both responsibility, opportunity and risk related 
to our goal of promoting sustainable trade and a 
better society. 
Expectations to employees are expressed in 
the Maersk Code of Conduct and in our internal 
governance framework, Commit, which includes 
relevant rules and guidelines. All employees must 
complete annual training in our Code of Conduct, 
and mandatory training on various compliance 
topics of key importance including in anti-corruption 
and sanctions. We also have a Supplier Code of 
Conduct for our suppliers and partners, which all 
suppliers must sign. 
To mitigate key risks, we focus on all compliance 
topics including anti-corruption and sanctions 
as well as data ethics (see p. 48). Our ocean and 
logistics activities primarily face corruption risks in 
the form of facilitation payments when we interact 
with authorities in ports and at border controls. For 
terminals, the risk is related to negotiations with 
governments on concessions or other agreements 
to build and operate terminals as a key part of a 
given country's infrastructure. These risks are all 
managed through our compliance programme and 
collective actions to fight corruption 
and ultimately eliminate facilitation payments. 
There is also a risk of corruption in our supply 
chain. We manage this through our Third Party 
Management process, focusing on integrity issues 
related to third parties interacting with government 
officials or procuring business on our behalf, and 
through our Sustainable Procurement programme, 
which manages corruption as one of a broader 
portfolio of risks (see p. 46).
We perform integrity due diligence covering a 
range of compliance topics on our agents, joint 
venture partners, key suppliers and M&A targets 
prior to signing a contract or entering a new market. 
Also, we screen parties and countries (origins 
and destination) as well as cargo descriptions to 
ensure adherence to sanctions and export controls 
regulations as they apply to our business.
Activities and progress in 2021
In 2021, we performed our second global 
compliance risk assessment, the results of which 
help guide our efforts towards defining meaningful 
risk-based mitigating measures and prioritising 
resources for training, transaction testing and 
spot checks towards the most high-risk areas of 
our business, including our growing logistics and 
services activities. 
Our training activities in 2021 covered Code of 
Conduct courses for 36,691 employees equal to 
91% of the employees in scope14. We are expanding 
training activities and reporting by developing 
dedicated training for seafarers and non-office 
workers in 2022. 
Going forward, we will report our progress 
on business ethics with a target of 100% of our 
employees being trained in our Code of Conduct  
by 2023.
Anti-corruption and facilitation payments 
We have since 2015 reported on reductions in 
facilitation payments on our own vessels, also 
including our drive to reduce payments on chartered 
vessels. Given that our reporting has been stable 
since 2018, around zero incidents with only minor 
fluctuations, we will no longer continue reporting 
on reductions and fluctuations but instead focus 
our reporting on processes, concrete initiatives 
and actions to fight corruption. The reductions on 
our chartered vessels are not as stable as on our 
own vessels where we have full control. However, 
our work with the chartered owners continues 
to produce results, and we maintain our goal to 
ultimately eliminate facilitation payments also for 
our chartered vessels.
Maersk’s policy prohibits bribes and facilitation 
payments. If a situation arises where a facilitation 
payment cannot be avoided (e.g., life-threatening 
situations), such payments must be accurately 
recorded in the accounting systems and reported 
to the Maersk Compliance team. In 2021, we 
implemented an updated and aligned internal 
control on facilitation payments across Maersk. This 
will automatically trigger a process to put mitigation 
plans in place and implemented to reduce and 
ultimately eliminate facilitation payments.
On an industry level, we contribute to have an 
impact on corrupt practices at a more systemic 
level, as we continue to engage with the Maritime 
Anti-Corruption Network (MACN), who with 50% 
of the world’s ocean tonnage as members serve 
as a strong collective voice against corruption. 
Maersk business entities are active in projects in 
Bangladesh, Pakistan, India, Ukraine, Egypt and 
Nigeria under this umbrella, with Nigeria being one 
of the first places where MACN has expanded its 
activities to also include cargo clearance. 
Speak Up culture
We promote a Speak Up culture encouraging 
employees to say something if they see something, 
ensuring no retaliation. Our whistleblower hotline 
is one of the available ways to raise concerns. In 
2021, nine instances were reported on potential 
public sector corruption cases. Four of the cases 
were not substantiated and five are still undergoing 
investigation.
Corruption is one of our key compliance 
risks. It undermines social and economic 
development, destabilises the business 
environment and adds to the cost of 
doing business and participating in global 
trade. It is against our values and affects 
external confidence as well as company 
morale. Non-compliance with bribery and 
corruption law may lead to legal and 
reputational risks, extra costs, inefficiencies 
in our business, fines, imprisonment and 
debarment from markets.
Ambition
With the aspiration to contribute to 
eliminating corruption in the industries 
where we are active, through both 
multistakeholder collaboration and 
actions in our own operations, our 
ambition is to act as best in industry, 
above the legal standard, meeting best 
international practices when operating in 
jurisdictions with high exposure to 
corruption, sanctions and export controls.
Targets
2023:
100% of employees trained in the Maersk 
Code of Conduct
Ongoing:
Bi-annual compliance and business ethics 
risk assessments covering 100% of our 
operations and continued implementation 
of the related risk mitigation measures 
mitigating any uncovered risks
Why it matters
16.3 
16.5
17.16
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Governance | Business ethics 
45
14      All white-collar employees in the integrated brands and their majority-owned joint ventures.

Expanding supplier engagement on ESG for sustainable procurement
Market  
research
Evaluation
Selection and  
onboarding
Monitoring
Relationship building
ESG criteria will  
be added in 2022
We plan to make  
all ESG topics part  
of evaluation in all  
high-risk categories
ESG criteria will be added  
to selection process, in  
varying degree depending  
on procurement category
We will continue to  
establish improvement  
plans and share best  
practices to close gaps
Currently, there is no 
ESG engagement after
improvement plans are 
closed. We intend to make 
ESG part of periodic supplier 
performance dialogue
Sustainable procurement
The A.P. Moller - Maersk (Maersk) Supplier Code  
of Conduct sets out minimum requirements for our 
direct suppliers and select sub-suppliers to operate 
in accordance with Maersk's responsible business 
practices and in full compliance with all applicable 
laws and regulations. 
As we progress on our Global Integrator strategy, 
we are expanding the scope of our ambitions 
to ensure responsibility and sustainability in our 
supply chain. This is driven by a greater exposure 
to sustainability-related risks, opportunities 
and responsibilities as we expand our landside 
activities. Also, there is growing regulatory pressure 
on the responsible management of supply chains. 
Finally, and not least, our customers clearly express 
that they expect us to secure responsible practices 
across the logistics solutions we provide, and  
to help them deliver on their commitments to  
achieve sustainable supply chains, specially in  
the areas of decarbonisation, labour conditions  
and anti-corruption.
Until recently, our supplier responsibility programme 
was driven to ensure compliance with our Supplier 
Code of Conduct, and this remains a fundamental 
priority. To strengthen the impact of the programme, 
during 2021, new paths were laid out to transform 
our approach to one that manages sustainability 
in a more integrated fashion with a supplier life 
cycle perspective and incorporating sustainability 
criteria at procurement category level. We aim to 
integrate ESG criteria into all phases of the supplier 
engagement life cycle (see graphic below) including 
positive supplier screening and preferring suppliers 
with above average sustainability credentials.
As a step in this direction, we launched a green 
procurement programme in 2021 looking at the 
environmental attributes of different procurement 
categories and investigating if we can already 
take steps to choose our suppliers based on their 
environmental and climate performance. Examples 
from categories we investigated in 2021 include 
corporate and seafarer travels, cleaning products for 
vessels and energy procurement for sites on land.
Assessing and monitoring high-risk suppliers
In our own supply chain, we annually assess 
compliance with the Supplier Code of Conduct 
with approximately 4,200 suppliers in high-
risk categories, by conducting due diligence 
activities such as audits, self-assessments and 
documentation reviews. This is out of a total 
supplier population of about 60,000. We use a 
risk-based approach working with suppliers in 15 
high-risk15 categories.
Suppliers are asked to address any gaps in 
the implementation of requirements through a 
timebound improvement plan in consultation with 
Maersk. Periodic reviews and follow-up audits are 
conducted. Our audit and assessment activities in 
2021 are shown in the graphic on p. 47. 
We increased our number of onsite audits for 
logistics and services suppliers, primarily related to 
third-party workers in terminals and warehouses. 
We also provide training for relevant employees on 
sustainable procurement.  
 
15     Our 15 high-risk categories are: Trucking and Intermodal, warehousing services, facility management, outsourced labour, terminals, shipbuilding yards and drydocks, security offshore, promotional items, customs agents, security 
onshore, construction, chemicals and paints, equipment, maintenance and repair, container manufacturers and manning (seafarers).
Through our operations and purchasing 
decisions, we have an impact on social, 
environmental and economic conditions in 
our industry and global supply chains. 
It is a clear expectation from our 
customers that our services are 
sustainable all the way. Addressing 
sustainability risks in our supply chain 
strengthens stakeholders’ trust in our 
brand and prepares us for regulation of 
due diligence in supply chains.
Why it matters
To live up to our commitment to procure 
sustainably, we will integrate ESG as a 
strategic topic across supplier lifecycle 
stages and establish end-to-end visibility 
on supplier performance through 
collaboration and engagement with an 
ultimate goal of co-development and 
innovation towards sustainable outcomes. 
Ambition
12.6
2021: 
Ensure purchasing aligned with responsible 
procurement requirements, expand scope 
and strengthen post-sourcing follow-up, 
prepare for legislation on supply chain 
due diligence
2024:
• 100% of suppliers committed to the 
Supplier Code of Conduct
• >85% of strategic suppliers undergoing 
ESG assessments
• >80% of high-risk category suppliers 
with Improvement Plan successfully 
closed 
Targets
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Governance | Sustainable procurement
46

Continued focus on third-party labour
We continue to work on ensuring that people 
working on our premises and performing tasks for 
us, but not hired by us directly, are offered working 
conditions that meet the standards in our Supplier 
Code of Conduct. 
We employ third-party labour in many parts of 
our business (see more on p. 42). Since 2019, we 
have worked specifically with working conditions 
for third-party workers in trucking and warehousing 
as part of our sustainable procurement efforts. We 
have established a pre-qualifying self-assessment 
and in 2021 we applied an audit process for the 
trucking category in five locations, involving a 
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Governance | Sustainable procurement
47
collaboration between members of Maersk’s local 
HSSE and procurement teams.
Also related to trucking, we continued our 
participation in the Responsible Trucking initiative 
run by CSR Europe. The first phase of this project 
was completed and guidelines on responsible 
procurement practices in this category were 
published. We are now working with CSR Europe 
and other partners on how to operationalise 
these guidelines and build a common approach to 
procurement due diligence in trucking, and as part 
of this we reach out to the truckers working for us 
to get their input and experiences integrated into 
the proposition.
We continue to work on ensuring that people working on our premises, but not employed by Maersk, are offered working 
conditions that meet the standards in our Supplier Code of Conduct.
Audits and assessments in 2021
Performed
Qualified
Performed
Improvement Plan Issued
On-site audits (ship building yard 
audits and other category audits)
37
33
2021
17
14
2020
Document reviews  
(by auditors or Maersk)
296
162
2021
147
76
2020
Pre-qualification 
questionnaire 
2020
442
441
2021
3,893 3,892

16.6
Maersk’s data ethics policy
Transparency: Demonstrating transparency in key 
aspects of data creation, collection and handling is 
a core feature. Transparency means our customers, 
business partners and employees know what data  
is collected, shared and how it is used by Maersk, but
also that we only collect what is necessary for the
purpose. Customers, business partners and employees 
can trust that we monitor and adjust our internal 
processes to keep transparency.
Respect: As a trusted partner, we continuously
monitor and ensure that data is handled in a
transparent manner with due respect for the choices
and fundamental interests of our customers, business 
partners, and employees. We integrate internal 
controls and train our people in high ethical standards 
to be applied when handling data in Maersk and when 
using our systems.
In Maersk, we use and process data based on the
principles of Transparency, Respect, Security, and 
Innovation with the overall purpose of creating value 
for our customers, employees, society, and investors, 
while protecting their data.
Through cross-functionally anchored governance,
we ensure technologies and data are used to innovate 
and further optimise our services, sustainability 
initiatives and operations, while being compliant to 
regulations and adhering to high ethical standards,  
in line with our Maersk Core Values.
Security: We apply the Maersk security policies
when handling data to ensure both compliance with
applicable laws and practices, and security of data for 
our customers, business partners and employees.
We will ensure that our systems operate securely and 
make use of modern technology that can be trusted.
Innovation: In Maersk, we are committed to
bring innovative solutions to our customers,
business partners and employees, and equally
to use innovation to positively impact the global
sustainability challenges through operational
optimisations and fuelling new industry norms to
redefine the impact of globally integrated logistics
services. Our use of data is foundational and at
the very core of further advancing these innovation
ambitions for the benefit of global society.
 Data ethics 
Data and technology open great opportunities to 
deploy products and services that improve our 
customers’ business and our employees’ working 
life. As our business model is increasingly powered 
by data and technology, we aim for high ethical 
standards in their use. Our data ethics programme 
enables A.P. Moller - Maersk (Maersk) to grow in 
accordance with our vision and set a high bar for 
the ethical use of data in our industry. 
Our approach to data ethics takes into account 
the human right to privacy as it relates to data, the 
ethical use of artificial intelligence and careful use 
of confidential data. The strong guiding vision on 
data ethics is necessary to grow in parallel with 
our increasing use of technology and corresponding 
volumes of data. We want to 'do the right thing' 
when handling our customers' and other stakeholders' 
data, so we can earn and maintain their trust.
We are prepared to meet the increasing regulation 
in this field, such as the new provision in Danish law 
which requires companies to communicate their 
data ethics policy in the annual report for 2021. 
We formalised this policy in 2021 and it can be 
seen below.
Accompanying measures have been established 
in the form of a Data Ethics Committee, anchored 
with executive leadership who are accountable for 
implementing our policy, defining the long-term 
vision alongside the policy, monitoring outcomes 
and progress, and providing leadership to the 
organisation. The goal is to have data ethics 
integrated in decision-making systems, including 
processes and technologies across the company. 
We will track our performance in data ethics with a 
target on training of our employees. Further targets 
and metrics will be defined during 2022.
Why it matters
Managing data collected from stakeholders, 
including customers, is a critical issue in 
today’s societies given that examples of 
undue influence and abuse of such data 
are increasing.
Maersk’s businesses are increasingly 
reliant on data as a key enabler in offering 
our customers integrated logistics 
services. We manage and control the 
storage and use of data ethically and 
proactively, to avoid abuse and privacy 
infringement issues. We must continually 
safeguard our position from legal, 
business and reputational risks.
Targets
2023
100% of employees trained on data ethics 
We demonstrate leadership in our ability 
to ethically manage and use data, with
customers trusting that we use their data
appropriately, and do not abuse or lose 
their trust. We prepare Maersk for a future 
with high ethical standards for data as a
differentiator for our customers and 
support to our employees. 
Ambition
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Governance | Data ethics
48

Responsible tax
As a global integrator of container logistics, we 
generate profits from ocean, air and land-based 
activities. A.P. Moller - Maersk (Maersk) operates 
in over 130 countries through more than 900 
entities, structuring its business in accordance 
with commercial and economic needs. We pay 
tax where value is created, within the boundaries 
set by legislation and in accordance with relevant 
authority guidelines. We seek to be tax efficient, 
including to prevent double taxation, interest 
charges, tax penalties, and we only pay tax which 
is due.
Our Terminals as well as Logistics and Services 
income is subject to standard corporate tax 
regimes, where income is taxed in the country 
where activities are carried out and in accordance 
with the taxation rates of the relevant countries.
Income from our Ocean activities, approx. 70% 
of our current revenues, is taxed in accordance 
with a tax regime known as tonnage tax. This is 
a long-established solution to the difficulties in 
applying normal country-based taxing on income 
from services provided by vessels on the high 
seas, calling at multiple ports across the globe. 
Allocation of income to these many jurisdictions is 
highly complex. 
Under the tonnage tax regime, tax is collected 
in the jurisdiction where the ship owning and 
operating entity resides. For Maersk, this is 
predominantly in Denmark, but also in Singapore, 
Hong Kong, Brazil and the USA. In addition to 
tonnage tax, in many jurisdictions, ocean shipping 
entities also pay what is referred to as 'freight 
taxes', which are taxes based on various metrics, 
for example, a deemed profit margin on turnover 
linked to export volumes. 
Under the tonnage tax regime, taxable income on 
which corporate income tax is paid is determined 
using vessel tonnage instead of actual profit or 
loss. The tonnage tax regime, on the other hand, 
does not allow tax deductions for depreciation on 
capital investments or operating expenses. 
This explains why our 2021 tax contributions 
have not grown at the same rate as our growth 
in profit, which has been exceptional during the 
years of the global COVID-19 pandemic. Conversely, 
in the years from 2012-2019, the tonnage tax 
regime led to Maersk paying more in taxes than we 
would have paid, had we been subject to standard 
corporate taxation.
Maersk's total tax charge was USD 697 million 
in 2021, compared to USD 407 million in 2020, 
while our profits doubled over five times. For more 
information, see the 2021 Annual Report and the 
2021 Tax Report on www.maersk.com. 
Tax principles and increased transparency
Our Tax Strategy is to conduct and manage our 
tax affairs in accordance with our Tax Principles. 
These are approved by the Board of Directors 
annually and are closely aligned with the Group's 
Core Values, Code of Conduct and business 
strategy. They are also aligned with the B Team's 
Responsible Tax Principles (an organisation 
dedicated to elevating business performance  
on society issues). The principles can be seen  
in the Maersk 2021 Tax Report. 
As part of the tax report, we have since 2020 
publicly disclosed the tax we pay in the largest 
taxpaying countries per region, in accordance with 
the OECD Country by Country Reporting (CBCR) 
principles. We will update this document annually 
going forward. We also provide full country-by-
country reporting to the Danish tax authorities in 
accordance with our legal obligations.
The EU list of noncooperative tax authorities for 
2021 comprises nine countries, of which Maersk has 
activities in Panama where we paid USD 1.6 million 
withholding taxes and incurred a loss of USD 3.7 
million. In Trinidad & Tobago we paid USD 8,000 
taxes on a profit of USD 41,000. 
Implications of global agreement on tax
136 countries and jurisdictions representing 
more than 90% of global GDP, in 2021 agreed to 
implement regimes taxing income where it is made 
and not only in headquarter jurisdictions, and 
introducing a global corporate minimum tax rate  
of 15% effective in 2023. 
Shipping is not subject to this 15% minimum 
taxation rule due to the complexity of allocating 
income to the many jurisdictions touched by ocean 
shipping activities. 
We are in continuous dialogue with the OECD to 
create rules that are practical and appropriate for 
shipping activities, also involving stakeholders such 
as the World Shipping Council, the Danish Shipping 
Association and the Danish tax authorities.
Well-functioning tax systems, both locally 
and internationally, help finance 
education, healthcare, transport, 
infrastructure and other public services 
that support sustainable development, 
local societies, businesses and trade. We 
recognise the need for companies to 
support the local economies in which they 
do business. 
Why it matters
Ambition
Maersk acts responsibly and with  
integrity in all tax matters, ensuring full 
compliance in every jurisdiction across  
the world. We work closely with tax 
authorities to ensure that we fully 
disclose relevant information and pay the 
correct amount of taxes whilst balancing 
our obligations towards our shareholders.
16.6
17.1
Targets
2023
• Full country-by-country tax reporting
• As an ongoing priority, we ensure full 
compliance with tax regulations in 
all countries where we operate and 
continue to engage in dialogue with 
stakeholders on tax matters
Introduction and strategy
Progress on ESG
Data and assurance
Governance | Responsible tax
A.P. Moller - Maersk      Sustainability Report 2021
49

Citizenship
Citizenship efforts at A.P. Moller - Maersk (Maersk) 
focus on select global partnerships as well as local 
donations focusing on priority causes: 
• Disaster relief and preparedness 
• Empowering for trade
• Protect natural environment and oceans
• Education and training
• Health and safety
• COVID-19-related donations (since 2020)
Mitigating COVID-19 disasters
COVID-19-related support remained a key focus 
area for donations in 2021. 
When a new surge in COVID-19 cases hit India 
in the spring of 2021, we combined local and 
headquarter expertise to establish a global control 
tower that would help the Indian government gain 
visibility over and manage the inbound flow of 
COVID-19-related treatment equipment. In addition, 
we carried out airlifts of vaccines and personal 
protection equipment, particularly into Nepal. 
Our partnership with UNICEF was strengthened, 
as we agreed to give their vaccine-related 
shipments special priority. This meant providing 
space and equipment guarantees free of charge, 
using a system that would automatically flag 
COVID-19 shipments to help prioritise them.  
Having ensured compliance with competition law, 
we also collaborated with shipping peers to gain 
oversight and solve shipping issues for UNICEF 
to avoid delays in the implementation of their 
vaccination programme. 
Support for disaster relief
Since 2011, Maersk has been a member of the  
UN-led Logistics Emergency Teams partnership (LET) 
where we, together with logistics peers Agility, UPS 
and DP World, contribute with logistics support for 
disaster relief and preparedness in cases of major 
natural disasters or complex local emergencies. 
In 2021, we were not called on to alleviate 
impacts of new disasters through LET. We 
completed a project in South Sudan, where we 
have built a vaccine cold chain consisting of three 
40-foot reefer containers, including training in 
maintenance and operations. 
Helping The Ocean Cleanup grow
Since 2018, we have partnered with The Ocean 
Cleanup to provide offshore and logistics support 
for their cleanup systems in oceans and major rivers. 
In July 2021, we returned to the Great Pacific Garbage  
Patch when The Ocean Cleanup launched their 
second ocean campaign resulting in proof of the 
system working, and 37 tonnes of plastic collected. 
Expanding campaigns for employee engagement
We continued our campaign to encourage 
colleagues to engage and take local action as 
Ocean Ambassadors in support of our partnership 
with The Ocean Cleanup. In 2021, we combined 
these efforts with the annual ‘GoGreen’ week, 
a concept originating in our terminals business 
for employee engagement, which has now been 
expanded across all Maersk sites, encouraging 
colleagues to support local cleanups, climate 
action, water stress, biodiversity loss and more.
Taking active responsibility to support the 
societies where we operate is grounded in 
our Core Values and an expectation to us 
from our key stakeholders. 
Why it matters
Ambition
We engage in select global partnerships 
that leverage Maersk assets and skills to 
make an impact in prioritised areas 
aligned with Maersk’s business and 
sustainability goals. 
We support local communities and 
partners with donations and social 
investments guided by corporate 
guidelines.
Targets
• Continue engagement and partnership 
with the Logistics Emergency Teams 
and The Ocean Cleanup 
• Leverage partnership platforms to 
promote employee engagement
• Improve documentation and disclosure 
of donations activities and impact 
3.8
11.5
14.1
Maersk employees and other volunteers in Charlotte, NC, 
participating in a local cleanup event during our annual 
GoGreen week.
The Ocean Cleanup collected approx. 37 tonnes of plastic at 
the Great Pacific Garbage Patch, in 2021.
The pandemic remained a key focus for donations, and also 
continued to affect crew change for our seafarers in 2021  
(see pp. 38 and 42). 
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Governance | Citizenship
50

Data and    
  assurance
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Data and assurance
51

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Progress overview
52
Summary of targets and progress across all issues
Summary of targets and progress across all issues
8 . 8
5 . 1 
5 . 5
10 . 2 
10 . 3
8 . 8
3 . 9
14 . 1 
14 . 3
17 . 16 
17 . 17
17 . 16
13. 1
7 . 3
4.4
17 . 16
14.1
8.8
*Commit is Maersk's central governance framework
Issues
Climate change
(p. 18)
Environment and ecosystems
(p. 29)
Responsible ship recycling  
(p. 33)
Safety and security
(p. 36)
Human capital
(p. 39)
Diversity, equity and 
inclusion (p. 40)
UN SDGs
Ambition
We will deliver an emergency response to the climate 
crisis and take leadership in the transformation of the 
transport and logistics sector to net zero operations.
We see ourselves as active citizens of the 
Earth, operating on the oceans as well as 
increasingly on land. 
We are committed to doing as little harm 
as possible while at the same time actively 
participating in restoring ocean and land 
health and resilience, as well as protecting 
animal habitats where we operate.
We aspire to be recognised by our 
stakeholders for our commitment and 
actions.
Ensure safe and responsible ship 
recycling globally to the benefit of 
workers, environment, responsible yards 
and ship owners.
We ensure everyone gets home safe by 
preventing fatal and life-altering incidents. 
We aspire to create an engaging 
environment for all colleagues 
and to become a company where 
our employees can develop and 
have thriving careers.
We want to facilitate diversity of 
thought and create a more diverse, 
equitable and inclusive workplace 
at Maersk, where our employees 
feel able to bring their whole 
selves to work and contribute to 
their fullest. A key priority is to 
foster gender diversity as this is 
our largest gap and where there is 
particular spotlight on company 
performance.
Targets
2040 
Net zero across our business and 100% green 
solutions to customers.
2030 
Aligned with a Science Based Targets initiative 
1.5-degree pathway.
Industry-leading green customer offerings across the 
supply chain.
Targets above replace previous targets: 
To have net zero CO₂ emissions from our own 
operations by 2050, which includes having 
commercially viable, net zero vessels on the water 
by 2030.
To deliver a 60% relative reduction in CO₂ emissions 
by 2030 compared to 2008 levels.
We set targets and measure our progress 
through KPIs and relevant metrics for 
priority areas:
Ecosystem health and biodiversity (incl. 
ballast water, operations in sensitive areas, 
ocean health, and transport of illegal 
wildlife and endangered species).
Waste and pollution (incl. spills, air 
emissions, accidental loss of containers to 
the sea, and environmental management 
systems).
Efficient resource consumption (incl. 
resource efficiency and freshwater 
consumption).
2022 
Create opportunities for responsible ship 
recycling of post-panamax ships globally.
Work with industry stakeholders 
to support yards globally, including 
non-OECD countries, to achieve EUSRR 
compliance and thereby increase actual 
capacity on the EU List.
Continue development of the wider 
Alang area.
Actively support the Ship Recycling 
Transparency Initiative scale-up work 
and raise the profile of transparency.
Identify Maersk's role in decarbonising 
the global steel value chain by leveraging 
ship recycling volumes in the long term.
2021 
Leading indicator targets for building safety 
capacity set for:
Learning Team activity (to be completed 
within 40 days of every High Potential 
Incident).
Leadership gembas (to be carried out 
according to plan).
Critical risk projects (on-time and on-scope 
delivery).
2023 
100% High Potential Incidents trigger 
frontline Learning Teams.
Global Leadership (Top 900) upskilled in  
Maersk Safety & Security Principles.
2025 
Top quartile score on  
engagement survey.
Target for the Board of 
Directors: 
Three women on the Board of 
Directors, if the Board consists of 
less than twelve members, and 
four women, if the Board consists 
of twelve or more members.
2025 
>40% women in management 
(Supplemented by specific 
targets for different leadership 
levels. See figure on p. 41).
>30% diverse nationality of 
executives.
Progress 
2021
Accelerated targets to align with a climate emergency 
mindset. Established decarbonisation plans for all 
business areas. 
Relative CO₂ emissions grew by 6.9% due to supply 
chain congestion disruptions. 
Continued research and investments in priority future 
fuels (biodiesel, green methanol and green ammonia).
Placed order for 13 methanol-driven vessels in total. 
with first one delivered in 2023, last ones in 2025. 
Growth in demand for Maersk ECO Delivery of more 
than 170% year-on-year since 2019, and launch of 
emissions dashboard customer offering.
Worked with stakeholders to build the market, fuel 
supply chains and policy frameworks to support 
decarbonisation of logistics.
Four key material areas of impact have 
been identified as part of the ESG strategy, 
with further detailing and quantitative 
targets to be defined in the coming years. 
We report on actions taken across the 
four areas and our performance on ballast 
water treatment systems, spills, emissions 
of SOx and NOx, waste, and water. 
Two vessels placed for recycling 
with yards in Alang, and recycling of 
three vessels from 2020 completed. 
Continued our support for medical 
outreach in wider Alang.
Continued advocacy and collaboration to 
advance inclusion of compliant Alang  
yards on the EU List, and to secure creation 
of new opportunities for responsible  
ship recycling for larger vessels. 
Contributed data and information to the 
Ship Recycling Transparency Initiative.
Carried out activities for each of the four 
categories in our safety approach: Lead 
with care (learning exchanges between 
leadership and frontline staff, global 
safety day), learn and adapt (critical risk 
projects, new requirements for landside 
operations, review for new business and 
M&A), culture of learning (learning teams), 
enhanced foundations (consolidated 
HSSE organisation, updated HSSE rule, 
and company-wide HSSE policy and 
management framework. 
Increased security measures on vessels and 
in terminals to mitigate risk of privacy in 
West Africa. 
Placed in the 59th percentile in  
the Gallup organisation's database 
of global companies. 
Developed new People Strategy 
focused on leadership, the 
development of all employees  
and a strong employer brand  
and talent acquisition processes. 
Met target for representation 
of women on the Board of 
Directors. Targets for gender and 
nationality representation in senior 
management were not met. 
Introduced a focus on equity to our 
work on DEI. Created gender action 
plan including new targets, among 
other things based on the results 
of our first global inclusion survey. 
Conducted annual diversity and 
inclusion week focused on the 
concept of respect. 
Governance
Governed by the Decarbonisation SteerCo 
with executive membership.
Governed through the Commit* rule, policy 
and management framework on Health, 
Safety, Security and Environment (HSSE). 
A responsible ship recycling steering 
committee oversees the Responsible 
Ship Recycling Standard and 
programme.
Governed through the Commit rule, policy 
and management framework on Health, 
Safety, Security and Environment (HSSE).
Ambitions and targets on human 
capital are owned by our People 
function and overseen as an  
ESG priority by the Executive 
Leadership Team. 
Our Diversity & Inclusion policy 
and targets are owned by our 
People function and overseen as 
an ESG priority by the Executive 
Leadership Team.

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Progress overview
53
This table provides an overview of our ambitions in the context of the UN Sustainable Development Goals, summary of forward-looking targets and progress 
in 2021, and how the issues are governed.
8 . 5 
8 . 7 
8 . 8
16.3
8 . 5 
8 . 7 
8 . 8
16.3
16.3 
16.5
17.16
12.6
16.6
17.1
3.8
11.5
14.1
Employee relations  
and labour rights (p. 42)
Human rights
(p. 43)
Business ethics  
(p. 45)
Sustainable procurement
(p. 46)
Data ethics
(p. 48)
Responsible tax  
(p. 49)
Citizenship  
(p. 50)
We offer decent, fair and equal working 
conditions and make Maersk a good place to 
work for all our people. We identify risks for 
third-party labour and implement mitigating 
and preventive actions and involve employees 
in our efforts to secure that our growth 
adequately considers our responsibility 
towards employees.
Continue aligning our business 
practices with the UN Guiding 
Principles, and ensure that 
human rights considerations are 
integrated into our due diligence 
processes and ESG governance 
mechanisms.
With the aspiration to contribute to 
eliminating corruption in the industries 
where we are active, through both 
multistakeholder collaboration and 
actions in our own operations, our 
ambition is to act as best in industry, 
above the legal standard, meeting best 
international practices when operating 
in jurisdictions with high exposure 
to corruption, sanctions and export 
controls.
To live up to our commitment to procure 
sustainably, we will integrate ESG as a 
strategic topic across supplier lifecycle 
stages and establish end-to-end visibility on 
supplier performance through collaboration 
and engagement with an ultimate goal of 
co-development and innovation towards 
sustainable outcomes.
We demonstrate leadership in 
our ability to ethically manage 
and use data, with customers 
trusting that we use their 
data appropriately, and do not 
abuse or lose their trust. We 
prepare Maersk for a future 
with high ethical standards 
for data as a differentiator for 
our customers and support to 
our employees.
Maersk acts responsibly and 
with integrity in all tax matters, 
ensuring full compliance in every 
jurisdiction across the world. We 
work closely with tax authorities 
to ensure that we fully disclose 
relevant information and pay the 
correct amount of taxes whilst 
balancing our obligations towards 
our shareholders.
We engage in select global partnerships 
that leverage Maersk assets and skills 
to make an impact in prioritised areas 
aligned with Maersk’s business and 
sustainability goals. 
We support local communities and 
partners with donations and social 
investments guided by corporate 
guidelines.
2021 
Perform four pilot audits on third-party 
labour to monitor risk and compliance.
Secure commitment and principles for timely 
involvement of employee representatives as 
our business grows and more automation is 
introduced.
2023 
100% of employees within Maersk trained  
in employee labour rights.
2022 
Develop action plans addressing 
the salient human rights risks 
identified in the human rights 
assessment.
Formalise Maersk's human rights 
governance framework.
2023: 
100% of employees trained in the 
Maersk Code of Conduct.
Ongoing: 
Bi-annual compliance and business 
ethics risk assessments covering 
100% of our operations and continued 
implementation of the related risk 
mitigation measures mitigating any 
uncovered risks.
2021 
Ensure purchasing aligned with Responsible 
Procurement requirements, expand scope and 
strengthen post-sourcing follow-up, prepare 
for legislation on supply chain due diligence.
2024 
100% of suppliers committed to the Supplier 
Code of Conduct.
>85% of strategic suppliers undergoing  
ESG assessments.
>80% of high-risk category suppliers with 
Improvement Plan successfully closed.
2023 
100% of employees trained on 
data ethics.
2023 
Full country-by-country tax 
reporting.
As an ongoing priority, we ensure 
full compliance with tax regulations 
in all countries where we operate 
and continue to engage in dialogue 
with stakeholders on tax matters.
Continue engagement and partnership 
with the Logistics Emergency Teams 
and The Ocean Cleanup. 
Leverage partnership platforms to 
promote employee engagement.
Improve documentation and disclosure 
of donations activities and impact.
Carried out bi-annual company-wide labour 
rights self-assessment.
Completed four sample audits in terminals 
in Nigeria, Columbia and Oman, and audits at 
warehouses in Bangladesh. Actions taken to 
address findings. Learnings will contribute 
to future work on third-party labour working 
conditions. 
203 cases related to potential violation of 
HR-related laws, rules or company values 
processed through our whistleblower system, 
of which 22 were substantiated. 20 of 
these were related to internal policies and 
procedures. 
Published a Human Rights  
Policy statement for  
A.P. Moller - Maersk.
Performed a corporate-level 
human rights assessment to 
re-determine our most salient 
human rights risks. 
Continued to integrate human 
rights issues into existing due 
diligence processes. 
Performed our second global 
compliance risk assessment and 
began company-wide roll out of our 
reviewed internal controls framework. 
Nine cases related to public sector 
corruption processed through our 
whistleblower system of which four 
cases were not substantiated and five 
are under investigation.
Continued to engage with the 
Maritime Anti-Corruption Network 
(MACN) on systemic challenges.
Performed audits and assessments. For 
results, see p. 47. 
Began transformation to more integrated 
management of sustainability in procurement 
with a supplier life cycle perspective and 
working at category level. Launched green 
procurement project.
Applied audit process for the trucking 
category in five locations in collaboration 
between Maersk’s local HSSE and 
procurement teams. Continued participation 
in CSR Europe's initiative on responsible 
trucking.
Established and 
communicated Maersk's Data 
Ethics Policy. 
Created the Data Ethics 
Committee as cross-
functional governance forum.
Total tax charge of USD 697 million. 
Published 2021 Tax Report, 
including disclosure of taxes paid, 
in accordance with the OECD 
Country by Country Reporting 
principles. 
Continued dialogue with the OECD 
on the implications of the new 
global tax agreement for shipping.
Continued focus on COVID-19-related 
support for donations.
Continued collaboration with  
The Ocean Cleanup as part of the 
extended partnership towards 2023 
covering offshore and logistics support. 
Conducted ‘GoGreen’ week for employee 
engagement across all Maersk sites, 
encouraging colleagues to support local 
cleanups, climate action, water stress, 
biodiversity loss and more. 
Governed through the Commit rule and 
policies on Global Employee Relations and 
the Global Employee Relations Council.
Anchored as a cross-cutting topic 
in our ESG governance framework, 
under the oversight of the 
Executive Leadership Team.
Governed through the Commit rule on 
Anti-Corruption, and overseen as an 
ESG strategic priority by the Executive 
Leadership Team. 
Governed through the Commit rule on 
Responsible Procurement and overseen as 
an ESG strategic target by the Executive 
Leadership Team.
Governed through the Data 
Ethics Committee and 
overseen as an ESG strategic 
priority by the Executive 
Leadership Team.
Governed through the Maersk Tax 
Principles and overseen by the 
Executive Leadership Team.
Governed through internal SOPs and 
guidelines for global engagement and 
local donations.
16.6

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Performance data
54
 Performance data
A.P. Moller - Maersk
Comments on 2021 Performance data
2021
2020
2019
1. Social performance
Our employees
1.1
Number of employees (FTEs)
85,375
83,624
86,279
FTE data is taken from Note 2.2 Operating cost in the audited 2021 Annual Report of A.P. Moller - Maersk.
1.2
Gender - female/total (% based on headcount)
31%
28%
28%
The share of women in Maersk is up 3%, while the share of woman in management and leadership has increased 2% 
and 1%, respectively. We also saw an increase of 3%, in target nationalities in executive leadership.
The improvements are mainly driven by our continued focus on diversity, equity and inclusion. Read more on pp. 40-41.
1.3
Women in management (JL 4+ - % based on headcount)
33%
31%
31%
1.4
Women in leadership (JL 6+ - % based on headcount)
22%
21%
20%
1.5
Target nationalities/total (% based on headcount)
72%
72%
71%
1.6
Target nationalities in executive leadership (JL 8 & 9 -% 
based on headcount) 
15%
12%
13%
1.7
Fatalities (headcount)
4
1
5
Regrettably, four fatal accidents were recorded during 2021, two in our fleet and two in our landside operations. Read 
more on p. 36. The significant improvement in our lost-time injury frequency rate was driven by an 18% decrease in the 
number of lost-time injuries and a 9% increase in exposure hours.
1.8
Lost-time injury frequency (based on exposure hours)
0.93
1.22*
1.16
2. Environmental performance
Energy consumption
2.1
Energy consumption (total, TJ)
473,188
432,767
463,815
Total energy consumption increased 9% mainly driven by an increased fuel consumption in our Ocean operations, 
increased activity in Logistics & Services and from Performance Team, which was included for the first time in 2021.
2.1
Fuel oil (1,000 tonnes)
11,083
10,368
11,173
Consumption of fuel oil increased 7% mainly driven by increased sailing speeds to make up for lost time caused by the 
global supply chain disruptions.
2.1
Gas fuels (1,000 tonnes)
28
11
10
The increase in gas fuels is driven mainly by LNG consumption in Performance Team, a business which was included in 
sustainability reporting for the first time in 2021, and a general increase in natural gas consumption.
2.1
Other fuels (1,000 tonnes) - excluding biofuel
307
120
130
The increased consumption of Other fuels were mainly driven by diesel consumption in Performance Team, which was 
included for the first time in 2021, and due to increased activity in Maersk Sea Container Services.
2.1
Biofuels (1,000 tonnes)
82
32
8
The consumption of Biofuels was up 156% mainly driven by the significant uptake of our ECO Delivery ocean shipping 
product by customers.
2.2
Renewable technologies (1,000 MWh)
165
66
-
The significant increase in energy consumption from Renewable technologies of 150% was mainly driven by Maersk's 
investments in solar power, battery technology and green certificates in APM Terminals.
2.2
Electricity (1,000 MWh)
731
664
656
The recorded electricity consumption increase of 10% was mainly driven by increased reefer usage in APM Terminals due 
to global supply chain disruptions to protect perishables, and the growth in our Logistics & Services business. 
*Restated based on improved reporting processes and the inclusion of exposure hours from contractors in Terminals and Logistics and Services that was not reported in 2020.
The numbers of the performance indicators correspond to the numbered sections in the Performance data accounting policies
JL: Job Level

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Performance data
55
 Performance data
A.P. Moller - Maersk
Comments on 2021 Performance data
2021
2020
2019
Greenhouse gas (GHG) emissions (1,000 tonnes CO₂ eq)
Greenhouse gas (GHG) emissions
2.3
Direct GHG emissions (scope 1 GHG Protocol)
36,863
33,902
36,204
Maersk's scope 1 emissions increased 9% compared to 2020. The increase is mainly driven by an increased fuel 
consumption in our Ocean transport-related fuel that accounts for 93% of our scope 1 emissions. 
2.4
Indirect GHG emissions (scope 2 GHG Protocol) – location-
based 
310
289
287
Maersk's location-based Scope 2 emissions increased 2% mainly driven by the increased electricity consumption.
2.5
Indirect GHG emissions (scope 2 GHG Protocol) -  
market based
330
337
-
Maersk’s market-based Scope 2 emissions decreased 2% mainly driven by the impact of the significant increase in procured 
green electricity, which was however partly offset by the general increase in electricity consumption across the company.
2.6
Value chain emissions (scope 3 GHG Protocol)
28,952
27,287*
-
Maersk's Scope 3 emissions increased 6% compared to 2020. This was mainly driven by our efforts to meet customer 
demands, which led to increased emissions from additional container purchases, chartering activities, and upstream 
emissions from increased fuel consumption. Read more on p. 25.
2.7
Total GHG emissions (scope 1, 2 - location-based - and 3)
66,125
61,478
-
Maersk's total GHG emissions increased with 7,5%. This was mainly driven increased emissions from Maersk's Scope 1 
and Scope 3.
2.8
Relative CO₂ reduction (percentage vs 2008 baseline)
42.6%
46.3%
44.9%
The relative CO₂ reduction emission intensity (the EEOI) increased by 6.9% affected by supply chain congestions and 
increased consumption given higher speed to help alleviate delays for customers. Read more on p. 20.
Other air emissions
Other air emissions
2.9
SOx (1,000 tonnes)
108
102
569
The 6% increase in recorded SOx emissions are related to the increased fuel consumption from Maersk's fleet.
2.9
NOx (1,000 tonnes)
889
824
888
Similar to SOx, the increase in NOx emissions relates to increased fuel consumption in our fleet.
Other resource consumption
Other resource consumption
2.10
Waste (1,000 tonnes)
339
283
299
Waste increased almost 20% compared to 2020. This was mainly driven by the increased activity in our Ocean business , 
where we operated an additional 35 vessels than in 2020, and an increase in non-hazardous waste from APM Terminals.
2.11
Water (1,000 m³)
1,834
1,736
1,696
Water consumption increased with 5.6% driven by the growth of the Logistics & Services business. 
Spills (hydrocarbon)
Spills (hydrocarbon)
2.12
>10 m³ (number of spills) 
2
2
0
In 2021, we recorded two uncontained hydrocarbon spills of >10 m³. Both spills were to land in the Terminals Maarsvlakte 2, 
Netherlands (15m³) and Salalah, Oman (28m³)
3. Economic performance (USD million)
Economic performance
3.1
Revenue
61,787
39,740
38,890
Financial data is taken from the audited 2021 Annual Report of A.P. Moller - Maersk.  
The annual accounts and independent auditors’ report can be found at investor.maersk.com
3.2
Profit/loss before financial items (EBIT)
19,674
4,186
1,725
3.3
CAPEX
2,976
1,322
2,035
3.4
Tax for the year
697
407
458
*Restated based on the implementation of an improved scope 3 methodology. Read more on p. 25.
Numbers of the performance indicators correspond to the numbered section in the Performance data accounting policies

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Performance data accounting policies
56
Performance data accounting policies
Basis of reporting
Reporting period
A.P. Moller - Maersk A/S' (Maersk) sustainability 
Performance data reporting covers the period from 
1 January to 31 December 2021.
Scope and consolidation
Unless otherwise stated, the Performance data 
is reported on the basis of the same policies as 
the financial statements. Thus, the Performance 
data include consolidated data from the parent 
company, A.P. Moller - Maersk A/S' (Maersk), and 
subsidiaries controlled by Maersk. Data is collected 
per legal entity per activity, and the figures are 
consolidated line-by-line. Data from associates 
and joint ventures are not included. Consolidation 
of Performance data using financial scope implies 
that:
• data relating to owned and leased-in assets are 
included
• data from owned assets that are leased out are 
not included.
Technical management of an asset on behalf 
of third parties follow the same consolidation 
principles. Thus, data is consolidated by the asset 
owner/lessee who uses the asset.
The consolidation for Safety (Fatalities and Lost-
time injury frequency) and spills data differs from 
the financial policies described above. Safety 
data is consolidated using an operational scope 
approach. This means that all safety and spills 
is included when A.P. Moller - Maersk or one of 
its subsidiaries has the governing authority and 
responsibility for health, safety and environmental 
management of the people, processes and facility. 
This approach excludes safety and spills data from 
assets that are partly owned by A.P. Moller - Maersk 
but operated by another company. Mobile assets 
are included when operated by A.P. Moller - Maersk. 
For vessels, the International Safety Management 
Code Document of Compliance must be held by  
A.P. Moller - Maersk to include the data.
The consolidation for greenhouse gas emissions 
data is based on the financial consolidation 
approach and stated in accordance with the 
GHG Protocol: direct emissions from owned and 
leased-in assets (Scope 1), indirect emissions from 
purchased electricity and district heating (Scope 
2), and value chain emissions (Scope 3), which also 
includes emissions related to leased out assets.
The consolidation for Maersk’s ‘Relative CO₂ 
reduction’ follows the financial consolidation 
approach but the scope only covers our vessels.
To ensure completeness in reported data from 
our offices, office standards have been developed, 
which can be used for offices with no production 
or warehousing, etc. The office standards define 
average consumption values per FTE and are  
only used if other more accurate information is  
not available.
Data from divestments are included until the 
day of transaction while data from acquisitions 
are included from the reporting year following 
the transaction. This is not the case for 'Number 
of employees (FTEs)' and 'Economic performance' 
indicators, which is reported on the basis of the 
same policies as the financial statements. In 2021, 
we have included data from Performance Teams 
and KGH Customs Services for the first time.
Emission conversions and calculations
GHG emissions are calculated using conversion 
factors for energy consumption and other GHG 
gases. Primary schemes used for AR5 (updated 
2014), EMEP/EEA air pollutant emission inventory 
guidebook (2019 database), IEA (updated 2020), 
DEFRA (updated 2020) and CEDA (updated in 2014). 
The principles for choosing among the schemes for 
default conversion factors are:
• The most recent and internationally recognised 
schemes are preferred
• A scheme must always be used in full. Thus, no 
combined schemes are allowed unless specific 
elements are not included in the primary scheme
• Specific industry schemes can be included when 
not in conflict with the above.
Application of reporting frameworks
Maersk does not apply a specific overall reporting 
framework but uses the Reporting Principles set out 
in the GRI 101: Foundation Standard as guidance to 
determine the report content and quality in terms of 
materiality, stakeholder inclusiveness, sustainability 
context, completeness, balance, comparability, 
accuracy, timeliness, clarity and reliability.
Changes affecting the 
Performance data in 2021
Reflecting the significant progress made in 
Maersk’s Global Integrator Strategy over the past 
years, for 2021 we present total Group figures and 
not the additional figures for the continuing and 
discontinued operations, which we have reported 
historically. 
Diversity KPIs
To ensure a more focused and aligned approach we 
have reviewed our diversity KPIs and included one 
new KPI and two revised KPIs in 2021:
• Women in management (Job Level (JL) 4 and 
above) – new KPI
• Women in leadership - revised KPI. Women in 
leadership is now JL6 and above (from JL5+ in 
previous years)
• Target nationality in executive management – 
revised KPI. Our target for target nationalities 
exists to ensure that our leaders reflect our global 
footprint and employee base. As we grow 
as a company it has been challenging to set 
meaningful and relevant targets by job level. We 
have therefore streamlined the target to only 
focus on the very top level of our organisation 
as this is the end goal to drive more nationality 
diversity at our executive level. 
Improved scope 3 methodology
We implemented significant improvements to 
our methodology and data collection for scope 
3 emissions calculation and now include scope 3 
emissions from all relevant categories. The 2020 
scope 3 figures have been restated using the 
improved methodology. We have also included a 
KPI on the Total GHG emissions, including Maersk's 
Scope 1, 2 - location-based, and 3.
Updated safety definitions
In aligning our external reporting with the way we 
drive our safety and security efforts, the following 
changes in definitions have been made:
• The scope for the ‘Fatalities’ and ‘Lost-time 
injuries’ KPIs has been expanded to include 
incidents relating to criminal and terrorist 
activity.
• Where Maersk has no operational control, 
e.g. the contractor leads and directs the work, 
‘Fatalities’ and ‘Lost-time injuries’ relating to 
contractors are no longer included in the reporting
 
Numbers for Fatalities and Lost-time injuries' have 
been restated accordingly for 2020.

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Performance data accounting policies
57
Accounting Policies
1. Social performance
1.1 Number of employees
Number of employees is the average number of 
full-time equivalents (FTEs) employed by Maersk 
during the year. FTEs are calculated based on the 
total number of compensable hours (days) in a 
work year compared to the number of hours (days) 
in a ‘norm’ work year. Temporary employees on 
salary are included. Excluded are employees on 
unpaid leave and contractors.
1.2 Gender – female/total
Gender – female over total is the percentage 
of women employed based on headcount. 
Headcounts are defined as all employees with  
an employment contract with Maersk who are  
on payroll regardless of the type of contract at  
year end. Excluded are employees on unpaid  
leave (except parental leave), contractors and  
third-party workers.
1.3 Women in management
Women in management is the percentage of 
women in level 4, 5, 6, 7, 8 and 9, corresponding 
to Managers, Senior Managers, Leaders, Senior 
Leaders and Executives, compared to total 
headcount of the same levels. Headcounts are 
defined as all employees with an employment 
contract with Maersk who are on payroll regardless 
of the type of contract at year end. Excluded are 
employees on unpaid leave (except parental leave), 
contractors, and third-party workers.
1.4 Women in leadership
Women in leadership is the percentage of women 
in level 6, 7, 8 and 9, corresponding to Leaders, 
Senior Leaders and Executives, compared to total 
headcount of the same levels. Headcounts are 
defined as all employees with an employment 
contract with Maersk who are on payroll regardless 
of the type of contract at year end. Excluded are 
employees on unpaid leave (except parental leave), 
contractors and third-party workers.
1.5 Target nationalities/total
Target nationalities over total is the percentage 
of target nationalities with non-high-income 
OECD nationalities employed based on headcount. 
Headcounts are defined as all employees with an 
employment contract with Maersk who are on 
payroll regardless of the type of contract at year 
end. Excluded are employees on unpaid leave 
(except parental leave), contractors and third-party 
workers.
1.6 Target nationalities in executive leadership
Target nationalities in executive leadership is the 
percentage of leaders with non-high-income 
OECD nationalities in level 8 and 9, corresponding 
to Executives, compared to total headcount of 
the same levels. Headcounts are defined as all 
employees with an employment contract with 
Maersk who are on payroll regardless of the type 
of contract at year end. Excluded are employees on 
unpaid leave (except parental leave), contractors, 
and third-party workers.
1.7 Fatalities
Fatalities is the headcount number of work-related 
accidents leading to the death of the employee.
1.8 Lost-time injury frequency
Lost-time injury frequency is the number of lost-
time injuries per million exposure hours. Lost-time 
injuries (LTI) is the sum of accidents, which results 
in a person being unfit for work on any day or shift 
after the day of occurrence. Excluded from LTIs 
are suicide or attempted suicide, ‘natural causes’, 
incidents during the commute to and from the 
regular place of work and incidents which occur 
off the ship but where the consequences appear 
based on consumed electricity and district heating 
bought from a third party and using country-
specific market-based factors for EU countries and 
the US and IEA factors for other countries.
2.6 Value chain GHG emissions (scope 3 GHG 
protocol)
Value chain GHG emissions (scope 3 GHG protocol) 
is the CO₂ equivalents’ converted sum of CO₂, 
CH₄ and N₂O from value chain activities. Of the 
15 scope 3 categories in the GHG Protocol, only 
eleven categories are determined as applicable 
to Maersk’s business model and activities. The 
excluded categories are: Cat. 9 downstream 
transportation and distribution, Cat. 10 processing 
of sold products, Cat. 14 franchises and Cat 15 
investment. Thus, Value chain GHG emissions 
comprises emissions relating to: Cat. 1 - purchased 
goods and services, which is reported based on 
procurement data and includes OPEX goods. 
Cat. 2 - capital goods, which is reported based 
on procurement data and includes our capital 
investments such as, e.g., retrofit of vessels and 
dry docking. We include the full scope 3 impact 
in the first year of a CAPEX investment. Category 
3 - fuel and energy related activities, which is 
reported based on actual fuel procured and 
consumed. Category 4 - upstream transportation 
and distribution, which is reported based on 
procurement data multiplied by relevant emission 
factor per transportation category (air/sea/truck/ 
rail). This means that e.g. trucking only includes 
carrier haulage. Cat. 5 - waste generated in 
operations, which is reported based on amounts 
and types of waste. Cat 6. – business travel, 
which is reported based on activity-data for 
our direct air travel and procurement data for 
other business travel related activities. Cat 7. – 
employee commuting, which is reported based 
on employee headcounts per location, estimated 
commuting distance and transportation modes. 
Cat 8. – upstream leased assets, which is reported 
onboard at some later time. Exposure hours are the 
total number of work hours in which an employee 
is exposed to work related hazards and risks. Leave 
and non-work-related sickness are excluded from 
exposure hours.
2. Environmental performance
2.1 Energy consumption
Energy consumption encompasses all fuel oil, gas 
fuels, other fuels (diesel, gasoline, kerosene and 
heating oil), and biofuel as well as the
consumption of electricity/district heating and 
renewable energy that is consumed/combusted at 
Maersk-controlled entities/vessels.
2.2 Renewable technologies
Renewable technologies is the amount of energy 
from solar panels, wind turbines, biomass and 
batteries that is consumed at Maersk-controlled 
entities/vessels and used for electricity or heating.
2.3 Direct GHG emissions (scope 1)
Direct GHG (scope 1) is the sum of all six Kyoto 
gases converted to CO₂ equivalents. Kyoto gases 
comprise: CO₂, CH₄ and N₂O, which are calculated 
based on amount of direct energy (i.e. the fuels 
stated under ‘Energy consumption’) that are 
consumed/combusted and HFCs, SF₆ and NF₃, 
which are based on direct consumption at Maersk-
controlled entities/vessels.
2.4 Indirect GHG (scope 2) – location based
Indirect GHG (scope 2) is the CO₂ equivalents’ 
converted sum of CO₂, CH₄ and N₂O, calculated 
based on consumed electricity and district heating 
bought from a third party and using location-based 
IEA emission factors.
2.5 Indirect GHG (scope 2) – market based
Indirect GHG (scope 2) is the CO₂ equivalents’ 
converted sum of CO₂, CH₄ and N₂O, calculated

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Performance data accounting policies
58
based on operations of assets that are leased and 
not reported in scope 1&2. Cat. 11 - use of sold 
products, is based on activity-data for marine fuels 
traded by Maersk to third parties. Cat. 12 – end-of-
life treatment of sold products, which is reported 
based on activity data for retreatment of sold new 
and second-hand reefers. Cat. 13 – downstream 
leased assets, which is reported based on fuel 
consumption from vessels, tugs and planes leased 
to third parties.
2.7 Total GHG emissions
Total GHG emissions is the sum of reported scope 
1, scope 2 – location-based and scope 3 emissions.
2.8 Relative CO₂ reduction (percentage vs 2008 
baseline)
We report on relative CO₂ emissions reduction 
using EEOI (Energy Efficiency Operational Indicator) 
methodology. EEOI is defined by IMO in MEPC.1/Circ. 
684 and is calculated as gCO₂/(Ton cargo x Nm). 
In practice, we calculate EEOI on voyage level and 
aggregate it in the following way:
(g CO2 voy1 + g CO2 voy2 + g CO2 voy3)
((Ton cargo x Nm)voy 1+ (Ton cargo x Nm)voy 2+ (Ton cargo x Nm)voy 3)
The data sources are:
1. g CO₂ – Based on fuel consumption, from 
departure voyage 1 to departure voyage 2, 
multiplied with relevant CO₂ factor (3.114 for HFO, 
3.206 for MDO).
2. Ton cargo – Calculated via draft and 
displacement tables, subtracting vessel weight 
and ballast water and fuel stock.
3. Nm – GPS distance from departure voyage 1 to 
departure voyage 2.
2.9 Other air emissions
Other air emissions include SOx and NOx, which 
both are calculated based on fuels consumed 
multiplied by generally accepted conversion factors 
for the respective fuels. In case of scrubber use, 
SOx emissions are reported based on Clean Cargo 
guidelines, where SOx output is assumed to be 
maximum for the operating area in which the 
vessel spends 80% of time.
2.10 Waste
Waste is reported as the sum of all waste  
types generated.
2.11 Water
Water is reported as the sum of all water 
consumed, excluding ballast water and water  
for re-injection.
2.12 Spills
Spills is reported as the number of uncontained 
hydrocarbon liquids spills greater than 10 m³, 
resulting from any irreversible release associated 
with current operations.
3.Economic performance
3.1 Revenue
Revenue stated as in Note 2.1 of the Annual  
Report 2021.
3.2 EBIT
EBIT stated as in Note 2.1 of the Annual  
Report 2021.
3.3 CAPEX
CAPEX (Cash payments for intangible assets and  
property, plant and equipment, excluding acquisitions 
and divestments) as stated in the Consolidated 
cash flow statement in the Annual Report 2021.
3.4 Tax for the year
Tax for the year stated as in Note 5.1 of the Annual 
Report 2021. 
EU taxonomy - how Maersk has prepared the 
revenue, CAPEX and OPEX KPIs
For 2021, Maersk’s taxonomy reporting includes 
the objectives of climate change mitigation 
and adaptation which are the only two for 
which the technical screening criteria has been 
adopted. As the remaining four environmental 
objectives become mandatory from 2022, 
the reporting approach will be reviewed and 
expanded accordingly, which may also impact 
the taxonomy KPIs reported for 2021.
The taxonomy KPIs have been calculated as:
• taxonomy revenue KPI = Eligible revenue/Total 
revenue
• taxonomy CAPEX KPI (additions) = Eligible 
CAPEX/Total CAPEX
• taxonomy OPEX KPI = Eligible OPEX/Total OPEX
Maersk’s process for determining taxonomy-
eligible activities (the nominator of the 
taxonomy KPIs) has followed a three-step 
approach:
1. Defining the economic activities that Maersk 
is engaged in across the Group
2. Assessing whether said activities are covered 
by the economic activity descriptions included 
in the EU taxonomy Climate Delegated Act
Applying a ‘linkage principle’ to allocate revenue, 
CAPEX and OPEX according to the company’s 
overall assessment of whether an economic 
activity is eligible or not.
Firstly, determination of the share of 
economic activities in Maersk that are taxonomy 
eligible is based on the segment structure 
and supporting activity codes in the financial 
consolidation system, which also forms the 
basis for Maersk’s external financial reporting. 
As such, revenue generating activity codes have 
been defined as an economic activity.
Secondly, based on the descriptions of what 
is registered on Maersk’s revenue generating 
activity codes an assessment has been made 
of whether these activities are covered by the 
activity descriptions that are included in the EU 
Taxonomy Climate Delegated Act. If there is a 
match, the revenue registered on this activity 
code is considered as eligible. If not, the revenue 
is assessed to be non-eligible.
Thirdly, Maersk has applied a ‘linkage 
principle’, which implies that all CAPEX and OPEX 
related to a revenue generating activity code is 
considered either eligible or non-eligible based 
on the assessment of whether the activity code 
is covered by an activity description in the EU 
taxonomy or not.
The denominator for the KPIs has been  
defined as:
• Total revenue is aligned with the revenue 
reported in Note 2.1 Segment information of 
the Annual Report.
• Total CAPEX is aligned with additions 
reported in Note 3.1 Intangible assets, Note 
3.2 Property, plant and equipment and Note 
3.3 Right-of-use assets of the Annual Report. 
An on-top adjustment of 621 million USD has 
been made to exclude goodwill that is not in 
scope for the EU Taxonomy.
• Total OPEX is aligned with Note 2.2 Operating 
costs of the Annual Report. An on-top 
adjustment of USD 285 million has been 
made to exclude Group costs, including staff 
and consulting costs etc., that are not related 
to servicing and maintaining the assets.

The Board of Directors and the Executive Board  
have today discussed and approved the 
Sustainability Report of A.P Møller - Mærsk A/S  
for 2021.
The Performance data in the Sustainability Report 
for 2021 has been prepared in accordance with the 
stated Performance data accounting policies.
In our opinion, the Sustainability Report for 2021 
gives a fair presentation of A.P. Møller - Mærsk A/S 
sustainability activities and results of the company’s 
sustainability efforts in the reporting period as well 
as a balanced presentation of A.P. Møller - Mærsk A/S 
environmental, social and governance performance 
in accordance with the stated Performance data 
accounting policies. 
Copenhagen, 9 February 2022
Executive Board
Søren Skou 
CEO
Patrick Jany 
CFO
Vincent Clerc
Morten Engelstoft
Henriette Hallberg Thygesen
Board of Directors
Jim Hagemann Snabe 
Chairman
Ane Mærsk Mc-Kinney Uggla 
Vice Chairman
Bernard L. Bot
Marc Engel
Arne Karlsson
Thomas Lindegaard Madsen
Blythe S. J. Masters
Amparo Moraleda
Jacob Andersen Sterling
Robert Mærsk Uggla
59
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Statement of the Board of the Board of Directors and the Executive Board  
Statement of 
       the Board of Directors  
and the Executive Board

A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Independent limited assurance report on the Performance data 
60
Independent limited  
 
 
 
 
assurance report 
on the Performance data 
To the stakeholders of A.P. Møller - Mærsk A/S 
A.P. Møller - Mærsk A/S engaged us to provide 
limited assurance on the Performance data stated 
on pp. 54-55 in the 2021 Sustainability Report of 
A.P. Møller - Mærsk A/S for the period January 1 – 
31 December 2021 (the "Performance data").
Our conclusion
Based on the procedures we performed and 
the evidence we obtained, nothing came to our 
attention that causes us not to believe that the 
Performance data in the 2021 Sustainability Report 
of A.P. Møller - Mærsk A/S are free of material 
misstatements and prepared, in all material 
respects, in accordance with the Performance data 
accounting policies as stated on pp. 56-58.
This conclusion is to be read in the context of 
what we state in the remainder of our report.
What we are assuring
The scope of our work was limited to assurance 
over Performance data in the 2021 Sustainability 
Report of A.P. Møller - Mærsk A/S. 
Professional standards applied and level of 
assurance
We performed a limited assurance engagement 
in accordance with International Standard on 
Assurance Engagements 3000 (Revised) ‘Assurance 
Engagements other than Audits and Reviews of 
Historical Financial Information’ and, in respect of 
the greenhouse gas emissions, in accordance with 
International Standard on Assurance Engagements 
3410 ‘Assurance engagements on greenhouse gas 
statements’. The quantification of greenhouse 
gas emissions is subject to inherent uncertainty 
because of incomplete scientific knowledge used 
to determine the emissions factors and the values 
needed to combine emissions of different gasses. A 
limited assurance engagement is substantially less 
in scope than a reasonable assurance engagement 
in relation to both the risk assessment procedures, 
including an understanding of internal control, 
and the procedures performed in response to the 
assessed risks; consequently, the level of assurance 
obtained in a limited assurance engagement is 
substantially lower than the assurance that would 
have been obtained had a reasonable assurance 
engagement been performed.
Our independence and quality control
We have complied with the independence 
requirements and other ethical requirements 
in the International Ethics Standards Board for 
Accountants’ International Code of Ethics for 
Professional Accountants (IESBA Code), which is 
founded on fundamental principles of integrity, 
objectivity, professional competence and due care, 
confidentiality and professional behaviour and 
ethical requirements applicable in Denmark.
PricewaterhouseCoopers applies International 
Standard on Quality Control 1 and accordingly 
maintains a comprehensive system of quality 
control including documented policies and 
procedures regarding compliance with ethical 
requirements, professional standards, and 
applicable legal and regulatory requirements. 
Our work was carried out by an independent 
multidisciplinary team with experience in 
sustainability reporting and assurance.
Understanding reporting and measurement 
methodologies
The Performance data need to be read and 
understood together with the Performance

61
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
Independent limited assurance report on the Performance data 
data accounting policies on pp. 56-58, which 
Management is solely responsible for selecting 
and applying. The absence of a significant body of 
established practice on which to draw to evaluate 
and measure non-financial information allows for 
different, but acceptable, measurement techniques 
and can affect comparability between entities and 
over time.
Work performed
We are required to plan and perform our work in 
order to consider the risk of material misstatement 
of the Performance data. In doing so and based on 
our professional judgement, we:
• Performed an assessment of materiality and the 
selection of topics for the 2021 Sustainability 
Report of A.P. Møller - Maersk A/S and 
comparison to the results of a media search;
• Read and evaluated reporting guidelines and 
selected internal control procedures regarding 
the Performance data in the 2021 Sustainability 
Report of A.P. Møller - Mærsk A/S; 
• Conducted interviews with Management 
responsible for the sustainability Management, 
use of company-wide systems, reporting and 
controls;
• Checked sustainability data on a sample basis  
to underlying documentation;
• Conducted analytical review of the data and 
trend explanations; and
• Evaluated the obtained evidence.
Statement on other sustainability information 
mentioned in the report
Management of A.P. Møller - Mærsk A/S is 
responsible for other sustainability information 
communicated in the 2021 Sustainability Report 
of A.P. Møller - Mærsk A/S. The other sustainability 
information on pp. 4-53 of the Sustainability 
Report comprises the sections ‘Introduction’  
and ‘Progress on ESG’ split into sections 
‘Environment’, ‘Social’ and ‘Governance', regarding  
A.P. Møller - Mærsk A/S’ 2021 sustainability 
approach, activities and results.
Our conclusion on the Performance data on pp. 54-
55 does not cover other sustainability information 
and we do not express an assurance conclusion 
thereon. In connection with our review of the 
Performance data, we read the other sustainability 
information in the 2021 Sustainability Report of  
A.P. Møller - Mærsk A/S and, in doing so, considered 
whether the other sustainability information is 
materially inconsistent with the Performance 
data or our knowledge obtained in the review or 
otherwise appear to be materially misstated. We 
have nothing to report in this regard.
Management’s responsibilities
Management of A.P. Møller - Mærsk A/S is 
responsible for:
• Designing, implementing and maintaining 
internal control over information relevant to 
the preparation of the Performance data in the 
Sustainability Report that are free from material 
misstatement, whether due to fraud or error;
• Establishing objective Performance data 
accounting policies for preparing the 
Performance data; and
• Measuring and reporting the Performance 
data in the Sustainability Report based on the 
Performance data accounting policies; and
• The content of the Sustainability Report.
Our responsibility
We are responsible for:
• Planning and performing the engagement to 
obtain limited assurance about whether the 
Performance data for the period 1 January 
– 31 December 2021 are free from material 
misstatements and are prepared, in all material 
respects, in accordance with the Performance 
data accounting policies;
• Forming an independent conclusion, based on 
the procedures performed and the evidence 
obtained; and
• Reporting our conclusion to the stakeholders of 
A.P. Møller - Mærsk A/S.
Copenhagen, 9 February 2022
PricewaterhouseCoopers
Statsautoriseret Revisionspartnerselskab
CVR no. 3377 1231
Mogens Nørgaard Mogensen 
State Authorised Public Accountant 
mne21404
Lars Baungaard
State Authorised Public Accountant
mne23331

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Printed matter
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We value your feedback
We welcome any questions, comments or 
suggestions you might have to this report and  
our performance. Please send your feedback to: 
A.P. Moller - Maersk
Esplanaden 50
1098 Copenhagen K
Denmark
Attn: Sustainability 
You can also send an email to:
sustainability@maersk.com 
www.maersk.com/about/sustainability 
Print
Printed in Denmark in 2022 by Kailow,  
an environmentally certified printing agency,  
on Arctic Matt.
 
Editors
Lene Bjørn Serpa 
Shruti Deshpande
ESG data and reporting 
Frederik Rementorp 
Geetanjali Chadha 
Alina Koriakina
Additional content about Maersk's sustainability 
and ESG efforts can be found on our website:  
Maersk.com/sustainability
Writer
Eva Harpøth Skjoldborg
Creative editor 
Brian Borup
Design and layout 
SPRING Production
Photographs 
p. 9: Keith Svendsen 
p. 6, 10, 35, 39: Ture Andersen 
p. 17, 44: Tengku Zull Affandi Bin Tengku Yusoff  
    & Hazmi Mohd Ali 
p. 26: The World Economic Forum 
p. 28: Jayesh Padaliya 
p. 30, 50: The Ocean Cleanup 
p. 32: Nick Souza 
p. 38: Anusha Tiwari 
p. 40: Drone Rune 
p. 50: Greg Nance 
p. 51: Toke Hage 
p. 62: GettyImages
62
A.P. Moller - Maersk      Sustainability Report 2021
Introduction and strategy
Progress on ESG
Data and assurance
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Introduction and strategy
Progress on ESG
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63

A.P. Møller - Mærsk A/S 
Esplanaden 50, DK–1098 Copenhagen K 
+45 33 63 33 63 
Company reg. no. 22756214
www.maersk.com