Maersk seals $5bn credit facility linked to emissions reductions
A.P. Moller – Maersk has secured a new $5bn revolving credit facility through a syndicate of 26 selected banks linked to the company’s performance in reducing emissions.
The facility, which will become part of the company’s liquidity reserve, has a tenor of five years and may be extended by up to two years. The credit margin will be adjusted based on Maersk’s progress in reducing CO2 emissions by 60% by 2030.
Henriette Hallberg Thygesen, CEO of fleet and strategic brands at Maersk, commented: “We are determined to reach our ultimate target of becoming fully carbon neutral by 2050, and this agreement serves as another enabler for us to deliver on that ambition. Given the lifespan of our fleet, we need to find new and sustainable solutions to propel our vessels within the next 10 years. To realize this ambitious commitment, we are partnering with researchers, regulators, technology developers, customers, energy providers – and now banks.”
Maersk announced in December 2018 its plans to become carbon neutral by 2050, which includes having carbon neutral vessels commercially viable by 2030.
