The Sea Cargo Charter (SCC) will significantly revise its reporting ambition, aligning its trajectory with emission reduction goals in response to the International Maritime Organisation’s (IMO) revised greenhouse gas strategy adopted in July
An association of the world’s largest energy, agriculture, mining and commodity trading houses, the Sea Cargo Charter was established in 2020 to improve industry emissions reporting.
The charter is voluntary and its signatories pledge to make the terms of the Sea Cargo Charter contractual in their chartering activities and to report their chartering activities on an annual basis using a scoring system.
The charter is designed as an evolving framework to assess and publish the climate alignment activities of charterers.
The updated alignment to IMO’s latest ambition statement means that charter members are to reach net-zero GHG emissions in the shipping sector by approximately 2050, featuring indicative checkpoints in 2030 and 2040 and employing a full lifecycle well-to-wake approach.
“Today, as representatives of the Sea Cargo Charter, we announce a revised trajectory in response to the latest IMO ambition unveiled during MEPC 80 in July,” said Sea Cargo Charter Chair and Global Head of Fuel Decarbonisation at Trafigura, Rasmus Bach Nielsen.
In addition to aligning its trajectory with IMO’s revised target, the SCC is set to expand its current membership scope to include shipowners, demonstrating a commitment to industry inclusivity and sustainable practices.
The organisation currently counts 37 signatories representing over 17% of total bulk cargo transported by sea annually. The SCC says its members are united in a desire to enhance data sharing, boost transparency, and create accountability across the maritime supply chain. Louder voices from within the shipping industry are seen as crucial in driving further adoption of pro-decarbonisation policies.
“Adopting IMO’s revised GHG strategy as well as opening the door to owners are two critical milestones for the Sea Cargo Charter as this will accelerate gaining traction within the industry,” said Cargill Ocean Transportation’s Global Operations & Supply Chain Director Eman Abdalla. “By increasing accessibility, improving the quality of data and encouraging collaboration between charterers and shipowners, we expect a knock-on effect of pushing standards for monitoring emissions and facilitating well-informed decision-making.”
The Sea Cargo Charter’s move follows the Poseidon Principles’ group of shipping lenders who updated their framework in line with IMO’s revised targets a few months ago.
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