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December 10, 2021updated 28 Dec 2021 10:08am

Chevron pledges to cut maritime emissions in half by 2050

Chevron has joined the Sea Cargo Charter, a maritime emissions reduction initiative to help companies cut back on their vessels’ carbon footprints.

By Scarlett Evans

Chevron has this week announced its latest emissions reduction commitment, joining the Sea Cargo Charter to reduce emissions from its California-based maritime arm. The group’s transport fleet comprises more than 30 tankers including 10 LNG carriers.

The charter was established last year to monitor and reduce the shipping sector’s carbon footprint, in line with the International Maritime Organisation standards that aim to cut the sector’s total annual emissions by at least 50% by 2050, as compared to 2008 levels.

Mark Ross, Chevron’s Shipping Company president said in a statement:

“The Sea Cargo Charter provides a global standard for reporting shipping emissions that advances the decarbonisation of the maritime industry. We are excited to join and partner with [the] Sea Cargo Charter to enhance the transparency and accuracy of reporting which will promote responsible environmental performance.”

Other members of the charter include TotalEnergies, Cargill, Anglo American and Royal Dutch Shell, with participating companies committed to monitoring and disclosing overall annual emissions from their shipping branches.

The Global Maritime Forum, Smart Freight Centre, University College London Energy Institute/UMAS, and law firm Stephenson Harwood are all involved with the charter in an advisory capacity.

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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. It is a real pleasure to see another industry leader joining the charter thus committing to our objective to decarbonise shipping,” said Jan Dieleman, chair of the Sea Cargo Charter Association and president of Cargill’s Ocean Transportation business.

Chevron announced in October that it had set an overall emissions reduction target of more than 5% from 2016 levels by 2028, as well as a net-zero target by 2050 for its scope one and two emissions. The group has also said it will contribute $2bn by 2028 towards carbon-reduction projects and $8bn in low-carbon investments.

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