Synopsys of the Story
Tata Steel becomes the first steel-producing signatory of the Sea Cargo Charter. The Company is the 24th organisation to join the association working to reduce environmental impacts of global seaborne cargo.
In line with its sustainability objectives and initiatives on reduction of Scope 3 greenhouse gas emission in ocean trade, Tata Steel joined the Sea Cargo Charter (SCC) on September 3, 2021.
Peeyush Gupta, Vice President, Supply Chain, Tata Steel, said, “As a leader in the steel industry which continuously sets a 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 million tonnes per annum, this is a decisive step in the direction to measure correctly and mitigate efficiently andinnovatively.”
Ranjan Sinha, Chief Group Shipping and Director Raw Material Procurement, Tata Steel, said, “Tata Steel is pleased to be a signatory of Sea Cargo Charter. As a leading global player in steel and has an impeccable reputation for Corporate Governance, it is befitting that we join hands with the world’s leading organisations across the industry sectors in making efforts towards sustainable shipping.”
“While the manufacturing sector focuses on Scope 1 and 2 emissions, we would like to think beyond compliance and take actions on Scope 3 emissions. We are committed to aligning our chartering activities with responsible environmental behaviour.”, he added.
The Sea Cargo Charter
The Sea Cargo Charter is a global framework for assessing and disclosing the climate alignment of chartering activities. It establishes a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with climate goals set by the UN maritime agency, the International Maritime Organization (IMO). The IMO’s Initial GHG Strategy prescribes to reduce the total annual GHG emissions generated by shipping activity by at least 50% of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century.
Launched in October 2020, there are currently already 24 Signatories standing behind this initiative.