Green Initiatives May Contribute to Inflation

“Going Green” may mean adding to consumer costs when it comes to the shipping industry. According to the International Energy Agency, international shipping was responsible for approximately 2% of “Global energy-related CO2 emissions in 2020.” With universal concerns about sustainability and climate change rising, shipping giant Moller-Maersk announced it’s plans to reach net-zero greenhouse gas emissions in the year 2040, 10 years ahead of its previous goal. While it is unanimously agreed that these target goals are detrimental to the survival of the planet, it has also been acknowledged that this will be no small task, financially speaking. The CEO of Moller-Maersk admitted to CNBC that shifting to “green” fuels would come at a cost, but emphasized the importance of focusing on the bigger picture rather than short-term pain.

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