Tata Steel has become the first steel producing signatory of the Sea Cargo Charter, a global framework for assessing and disclosing the climate alignment of chartering activities.
The Indian steel giant said the move is in line with its sustainability objectives and initiatives on the reduction of Scope 3 greenhouse gas emissions in ocean trade.
“As a leader in the steel industry which continuously sets the benchmark in sustainable operations, it is imperative that we look at Scope 3 emissions with similar alacrity. With our seaborne global volume in excess of 40 m tonnes per annum, this is a decisive step in the direction to measure correctly and mitigate efficiently and innovatively,” said Peeyush Gupta, vice president, supply chain, Tata Steel.
As part of Tata Steel’s efforts to align with the charter’s ambitions, earlier this month, the company also announced a partnership with Danish technology firm Optimum Voyage to use big data to help lower emissions from ships delivering raw material to its European operations.
Tata Steel is the 24th organisation to join the Sea Cargo Charter. Launched in October 2020, the Sea Cargo Charter establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by the International Maritime Organization (IMO) to reduce the total annual greenhouse gas emissions generated by shipping activity by at least 50% of 2008 levels by 2050.
Signatories of the Sea Cargo Charter also include Maersk Tankers, NYK Bulkship, Trafigura, Anglo American, Shell, Equinor, TotalEnergies and Ørsted.