From insight to action: Peer benchmarking to reduce GHG emissions

Why context matters in GHG emissions reduction

In 2009, Usain Bolt stunned the world by completing the 100-meter sprint in just 9.58 seconds, breaking the previous world record held by fellow Jamaican sprinter Asafa Powell. What made Bolt’s feat so exceptional wasn’t just his speed; it was the fact that we could measure it against an established benchmark. His record set a new standard, giving athletes worldwide a clear target to aspire towards.

The business world isn’t so different. Just as runners use benchmark times to improve performance, companies can use peer benchmarking to compare their GHG (greenhouse gas) emissions data against industry standards and similar organisations. This comparison provides the crucial context needed to identify gaps, set realistic goals, and continuously improve.

What is peer benchmarking in the context of GHG emissions?

At its core, peer benchmarking involves evaluating your company’s performance, such as GHG emissions, against that of similar organisations or industry averages. It provides insight into where you stand, helps prioritise improvement areas, and supports transparency and accountability across internal and external stakeholders.

While Scope 1 (direct GHG emissions from owned or controlled sources) and Scope 2 (indirect GHG emissions from purchased energy) are typically easier to track, Scope 3 GHG emissions, which include all other indirect emissions in the value chain, are more complex, involving data from suppliers, logistics providers, and partners. Yet, this scope often holds the largest share of a company’s carbon footprint, making it vital for comprehensive benchmarking.

Peer benchmarking helps translate raw GHG emissions data into actionable insights by placing it in the context of industry norms, helping companies understand whether their GHG emissions are above or below average, and why.

How peer benchmarking works

Benchmarking emissions begins with collecting data and comparing it to credible, aggregated sources such as industry standards, sector averages, or data from peer companies. This comparison can be done through:

• Participation in industry-wide disclosure platforms
• Use of advanced analytics and emissions tracking software
• Collaboration with accredited organisations that define and validate benchmarks

Modern tools now allow for real-time tracking and dynamic benchmarking, making it easier to move from simple compliance to proactive GHG emissions management. With this shift, companies can identify trends, spot inefficiencies, and act quickly.

As Sorabh Tomar notes in his research published by The European Corporate Governance Institute, “benchmarking, whereby facilities use the disclosures of their peers to assess their own relative GHG performance, spurs GHG emissions reductions. Firms’ concerns about future legislation appear to motivate this behaviour and measurement alone (without disclosure) seems not to reduce GHG emissions.”

This behavioural insight shows that simply having visibility into peer data can trigger emissions reduction actions, especially when future regulation is a looming concern.

Benefits of peer benchmarking

Effective benchmarking can unlock numerous advantages for businesses looking to improve their decarbonisation performance:

Contextual performance evaluation
Understand where your GHG emissions stand relative to others in your sector, whether you’re ahead, behind, or average.

Continuous improvement
Seeing what others are achieving can spark internal targets and drive progress towards decarbonisation.

Identification of best practices
Top performers often point the way towards efficient strategies and innovative technologies.

Credibility in ESG reporting
Benchmarks from third-party or standardised sources add weight to GHG emissions disclosures.

Influence on stakeholder perception
Investors, customers, and regulators use benchmarking data to evaluate a company’s ESG profile, affecting decisions on funding and partnerships.

Support for climate goals
Benchmarking helps align internal efforts with broader commitments like Science Based Targets.

Peer benchmarking in action

Maersk’s Emissions Studio platform recently introduced a Peer Benchmarking feature that gives customers a convenient way to evaluate their GHG emissions performance. The dashboard compiles anonymised data from Maersk’s logistics network to create regional and industry-specific benchmarks, allowing customers to assess whether their GHG emissions align with peers.

Anna Deshko, Global Product Manager at Emissions Studio, explains, “Most companies have certain decarbonisation commitments. I'll give you the example of Maersk: our own commitment to be net zero by 2040.”

Unlike long-term science-based targets, which take a long-term view, peer benchmarking allows for ongoing evaluation, week by week or quarter by quarter. It helps answer key questions like: Are we performing better or worse than the market? Are our GHG emissions trending in the right direction?

With the Emissions Studio dashboard, companies can view intensity-based benchmarks such as grams of CO₂ equivalents emitted per ton of goods per kilometre. This allows for apples-to-apples comparisons, regardless of company size or volume of goods moved.

“If you compare total GHG emissions from a small company to those of a global corporation, it won’t be meaningful,” says Deshko. “But comparing GHG emissions intensity gives us a universal metric. That’s where peer benchmarking becomes really powerful.”

Challenges to keep in mind

As with any data-driven strategy, peer benchmarking has limitations. One challenge is access to reliable, standardised data, especially for Scope 3 emissions, which vary greatly across industries. Without consistent methodologies, comparisons may lose relevance.

Another concern is data interpretation. Benchmarking should support, not replace, strategic thinking. Overemphasis on the performance of others can distract from long-term planning or unique company strengths.

Privacy is also critical. In the Maersk Emissions Studio dashboard’s case, benchmarks are based on anonymised data from a large base of logistics customers: typically, more than five customers in a trade lane provide for data with a sufficient scale. To protect confidentiality, comparisons are only shown against 'industry' average.

Benchmarking also requires relevant comparison groups. For instance, fast fashion brands using air freight will have vastly different GHG emissions profiles than slow fashion companies using ocean shipping. In such cases, platforms need to adapt datasets and comparisons to suit the specific supply chain model.

The way forward

Peer benchmarking can play a key role in GHG emissions management. By providing real-world context, it helps companies translate data into strategy, supports transparency, and fosters progress towards shared climate goals. When applied thoughtfully and supported by the right technology and data safeguards, benchmarking becomes more than a measurement tool, it becomes a means for change.

Take the next step towards your decarbonisation goals

As global pressure mounts to reduce GHG emissions and demonstrate progress in decarbonisation, peer benchmarking gives businesses the clarity they need to act with confidence. Whether you're tracking GHG emissions from ocean freight, warehousing, or last-mile delivery, knowing how you compare equips you to make smarter, faster decisions.

Be ready to take your next decarbonisation step to go all the way! Discover more with Maersk Logistics Insights, and learn about Maersk’s Emissions Studio or for more logistics trends and insights, read and download The Logistics Trend Map.