Chevron Shipping Company, a California-based marine transportation unit of oil giant Chevron, has joined the Sea Cargo Charter, a global framework that establishes a common baseline for global traders to report on CO2 emission reductions of their shipping activities.
Specifically, the Sea Cargo Charter is a benchmark initiative for responsible shipping activities, transparent greenhouse gas (GHG) reporting, and improved decision-making in line with UN decarbonization targets.
The Sea Cargo Charter is consistent with the policies and ambitions adopted by the International Maritime Organization (IMO), a specialized agency of the United Nations responsible for regulating shipping. This includes its ambition for GHG emissions from international shipping to peak as soon as possible and to reduce shipping’s total annual greenhouse gas emissions by at least 50 percent of 2008 levels by 2050.
“The Sea Cargo Charter provides a global standard for reporting shipping emissions that advances the decarbonization of the maritime industry. We are excited to join and partner with Sea Cargo Charter to enhance the transparency and accuracy of reporting which will promote responsible environmental performance,” Mark Ross , president of Chevron Shipping Company, commented.
“We are very pleased to welcome Chevron in the Sea Cargo Charter. As a large multinational corporation and an oil major, we look forward to their contribution to our shared goal,” Jan Dieleman , chair of the Sea Cargo Charter Association and president of Cargill’s Ocean Transportation business, said.
The development of the Sea Cargo Charter has been led by global shippers – Anglo American, Cargill Ocean Transportation, Dow, Norden, TotalEnergies, Trafigura, Euronav, Gorrissen Federspiel and Stena Bulk; with expert support provided by the Global Maritime Forum, Smart Freight Centre, University College London Energy Institute/UMAS, and Stephenson Harwood.
The Sea Cargo Charter is intended to evolve over time as the IMO adjusts its policies and regulations to the changing environmental landscape.