New emissions reporting initiative attracts support from leading players
A new transparent reporting initiative under the name The Sea Cargo Charter has received significant backing with 17 organisations including shipowners, mining and commodity traders having signed up.
Large industrial corporations are significant users of international shipping services with movements of crude oil, coal, iron ore, grain and other bulk commodities used worldwide making up over 80% of global seaborne trade. The Sea Cargo Charter is a global framework that allows for the integration of climate considerations into chartering decisions to favour climate-aligned maritime transport.
The Sea Cargo Charter establishes a common baseline to quantitatively assess and disclose whether shipping activities are aligned with adopted climate goals particularly the IMO’s ambition for greenhouse gas emissions from international shipping to peak as soon as possible and to reduce shipping’s total annual greenhouse gas emissions by at least 50% of 2008 levels by 2050, with a strong emphasis on zero emissions.
“A standard greenhouse gas emissions reporting process will simplify some of the complexities often associated with reporting. It will encourage a more transparent and consistent approach to tracking emissions, which will be a critical part of making shipping more sustainable,” said Jan Dieleman, President, Cargill Ocean Transportation and Chair of the Sea Cargo Charter drafting group.
“The shipping industry as a whole needs to adopt a transparent approach, advocated by the Sea Cargo Charter, in order to fully understand the sector’s overall greenhouse gas footprint and for us to collectively rise to the challenges faced,” said Rasmus Bach Nielsen, Global Head Fuel Decarbonisation, Trafigura.
“The Sea Cargo Charter is an important step in laying the foundations for a net-zero emissions shipping industry. Collaboration such as this, from across the sector, is vital to scale-up customer demand for low- or zero-emissions shipping. This same spirit of collaboration is also vital in the pursuit of the technological advances needed to unlock decarbonisation solutions, and in building industry support for regulation which can create an ambitious but level-playing field under which to invest. Building on this momentum we would like the IMO to use its 2023 strategy review to set the trajectory for the sector to move to net-zero emissions by 2050,” said Grahaeme Henderson, Global Head, Shell Shipping & Maritime.
“The Sea Cargo Charter enables leaders from diverse industry sectors to use their influence to drive change and promote shipping’s green transition by choosing maritime transport that is aligned with agreed climate targets over that which is not,” said Johannah Christensen, Managing Director, Head of Projects & Programmes at international non-profit, Global Maritime Forum.
The Sea Cargo Charter is intended to evolve over time as the IMO adjusts its policies and regulations and when further adverse environmental and social impacts are identified for inclusion. They also aim to support other initiatives developed to address climate, environment, and social risks in shipping, such as the Poseidon Principles.