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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  A.P. Møller - Mærsk A/S    MAERSK B   DK0010244508

A.P. MØLLER - MÆRSK A/S

(MAERSK B)
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Shell urges collaboration with other industries to tackle emissions

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10/09/2019 | 07:24am EDT
The logo of Royal Dutch Shell is seen at a petrol station in Sint-Pieters-Leeuw

LONDON (Reuters) - Royal Dutch Shell's chief executive took aim beyond the energy sector to call on leaders of other industries including aviation, shipping and steel to jointly draw up plans to tackle greenhouse gas emissions.

Ben van Beurden also warned on Wednesday that energy companies that do not collaborate in the fight against climate change under the 2015 Paris agreement risk going out of business.

"Climate change is the biggest challenge facing the energy industry, but the energy industry isn't the biggest challenge for the world trying to tackle climate change," van Beurden told the Oil & Money conference.

"All sectors need to figure out pathways to net zero emissions."

Oil and gas companies have come under huge public and investor pressure in recent years to reduce carbon emissions from their operations and the products they sell.

For a graphic on Oil Majors' Carbon emissions, click https://fingfx.thomsonreuters.com/gfx/editorcharts/OIL-CARBON/0H001QX928M7/eikon.png

But van Beurden said that to reach the Paris climate goals for "net zero" emissions by the end of the century, governments and industries need to transform demand.

Government-set taxes on carbon emissions will not be enough to turn the tide and coordinated action from industries to improve efficiency and reduce emissions is essential, he said.

"If this type of sector-by-sector action does not happen, the world will fail to meet the goals of the Paris agreement."

Shell, the world's second-largest listed energy company, has recently taken part in a joint effort with the Danish government, AP Moeller Maersk, the world's largest shipper, and Citigroup bank, to come up with ways to develop a system to offset emissions from commercial ships, van Beurden said.

"Energy companies which do not play a full role in such in such collaborations and that do not evolve will fall behind society. They will fall by the wayside," van Beurden said.

(Reporting by Ron Bousso; Editing by Kim Coghill)

By Ron Bousso and Shadia Nasralla

Stocks mentioned in the article
ChangeLast1st jan.
A.P. MØLLER - MÆRSK A/S 1.00% 9734 Delayed Quote.0.31%
CHANGE INC. 5.84% 11410 End-of-day quote.684.73%
CITIGROUP INC. -3.33% 41.85 Delayed Quote.-47.62%
LONDON BRENT OIL -0.19% 41.45 Delayed Quote.-36.88%
WORLD CO., LTD. -2.41% 1418 End-of-day quote.-47.31%
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Financials (USD)
Sales 2020 38 870 M - -
Net income 2020 1 669 M - -
Net Debt 2020 10 117 M - -
P/E ratio 2020 18,0x
Yield 2020 1,53%
Capitalization 28 362 M 28 418 M -
EV / Sales 2020 0,99x
EV / Sales 2021 0,93x
Nbr of Employees 83 512
Free-Float 40,9%
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Technical analysis trends A.P. MØLLER - MÆRSK A/S
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TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 1 648,65 $
Last Close Price 1 524,41 $
Spread / Highest target 46,7%
Spread / Average Target 8,15%
Spread / Lowest Target -46,9%
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Managers
NameTitle
Søren Skou Chief Executive & Operating Officer
Jim Hagemann Snabe Chairman
Patrick Jany Chief Financial Officer
Bhushan Ivaturi Chief Information Officer & Vice President
Adam Banks Chief Technology & Information Officer