64 PERSPECTIVES ON BUSINESS AND ECONOMICS | VOL 41 | 2023 written into the Carlsberg Foundation’s identity and has been instilled into the company’s core over the course of its over 100-year history. AB InBev, meanwhile, is the product of a series of mergers and acquisitions that started in the 1980s and has continued through the present day. It holds no allegiance to any historical mission and is not legally bound to prioritize the demands of science. Thus, it should come as less of a surprise that AB InBev’s total greenhouse gas emissions have hovered within the same range from 2018 to 2021; at the same time, the Carlsberg Group has almost halved its total carbon dioxide emissions. From the discrepancies in these results, one can see which corporation is merely saying the right things versus taking direct action on climate change (AB InBev, 2021). Maersk has proven to be an industry trailblazer with respect to sustainability. Maersk was the first shipping firm to shift to green methanol as a fuel, ordering 13 ocean-going vessels in 2021. The following year, Maersk ordered six more. Maersk also ordered more than 400 electric trucks, which will be delivered between 2023 and 2025 for use by Maersk’s North American warehousing, distribution, and transportation operations. To further assist in its goal of net-zero carbon emissions, Maersk forged nine strategic green fuel partnerships in 2022, contributing to its planned portfolio of about 5 million tons of bio- and e-methanol by 2030. However, its carbon intensity has increased by 7% from 2020, which Maersk attributes to global supply chain disruptions (A.P. Moller - Maersk, 2022). Maersk’s focus on sustainability is even more remarkable than that of its main competitor, Mediterranean Shipping Company (MSC), an Italian conglomerate that includes cargo, cruises, and supply chain management. MSC is family owned, with its founder, Gianluigi Aponte, serving as the Group Chairman, and his son and daughter Group President and Group Chief Financial Officer, respectively (MSC, 2022). Because MSC is privately owned, it does not release its financial results to the public, but it is widely estimated to be among the world’s largest shipping companies, in addition to CMA CGM, a French shipping company that is chaired by the son of its original founder. What is the difference between these two family-run firms and the family foundation–owned Maersk? Maersk is not directly run by the foundations that control it; rather, it has its own CEO and board of directors, who are not descendants of A.P. Moller. When comparing Maersk’s sustainability progress to that of its competitors, we can see that the distance this arrangement provides can be positive. MSC and CMA CGM both aim for complete carbon neutrality by 2050 (MSC, 2022; CMA CGM, 2022). In contrast, Maersk is clearly on an accelerated path in terms of sustainability. It has already ordered 19 green menthol-enabled vessels, which will be delivered in 2025 (A.P. Moller - Maersk, 2022). MSC, however, does not expect to operate its first net-zero fuel capable vessels until 2030 and mentions no timeline in terms of the investments it will put forth to make this a reality (MSC, 2022). The ambitious targets that Maersk has set for itself did not come from nowhere. It has reduced its carbon dioxide emissions by 42.6% since 2008. While MSC and CMA CGM have both made commitments to reducing their carbon dioxide emissions, they do not specifically detail how they will hold themselves accountable to that goal. Maersk, on the other hand, implemented an Emissions Dashboard to track its progress (A.P. Moller - Maersk, 2022). It is apparent that the core values of the family foundation, and the distance between the family foundation and the management of the company, spur increased efficiency in terms of the company actually implementing solutions that promote greater sustainability versus companies that are directly family run. It is important that this distinction be made between family foundation–owned firms and family-owned firms. The family foundation that owns most of Maersk acts as a guide in terms of maintaining the values that were originally written into the company’s charter, but it is not in charge of Maersk’s operations; that is the job of the board of directors. MSC and CMA CGM are directly controlled by the founding families who operate as the management, thus directly affecting their performance in areas requiring innovation. In terms of sustainability, Novo Nordisk aims to reach zero emissions from operations and transportation by 2030 and total net-zero carbon emissions by 2045. It has already reduced carbon dioxide emissions from operations and transportation from 2019 prepandemic levels by 29% and is currently focusing the bulk of its efforts on reducing the emissions that are not in its direct control “but rather [including] in particular the consequences of goods and services procured from [our] 60,000+ suppliers” through partnerships with sustainable transit companies. For example, its partnership with SkyNRG for sustainable aviation fuel will allow cutting carbon dioxide emissions from airfreight by about 19,000 tons annually, starting in 2027 (Novo Nordisk, 2022, p. 13). Innovation In addition to sustainability ranking as highly important, each of these companies has shown a strong
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