The Sea Cargo Charter sets a new benchmark for responsible
shipping, transparent climate reporting, and improved decision
making in line with United Nations decarbonization targets.
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT):
A group of the world’s largest energy, agriculture, mining, and
commodity trading companies will for the first time assess and
disclose the climate alignment of their shipping activities. United
Nations agencies estimate the international shipping industry to
carry around 80% of world trade flows and to be responsible for
2-3% of global greenhouse gas emissions annually.
Large industrial corporations are significant users of
international shipping services. The shipping of crude oil, coal,
iron ore, grain and other bulk commodities used worldwide make 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 favor 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. The Sea Cargo Charter is
consistent with the policies and ambitions adopted by member states
of the International Maritime Organization (IMO), a specialized
agency of the United Nations responsible for regulating shipping.
This includes its 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.
“Total shares the ambition to get to net-zero emissions by 2050,
together with society, for its global operations. As a broad energy
company, we are actively working on improving the environmental
footprint of the maritime industry. By becoming today a founding
member of the Sea Cargo Charter, we reaffirm our support to this
key sector. This pioneering initiative will provide a transparent
standard emissions reporting approach and will pave the way for a
sustainable shipping industry.” underlines Luc Gillet, Senior
Vice President Shipping, Total Trading & Shipping.
“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,” says Jan Dieleman Chair of the Sea
Cargo Charter drafting group.
The 17 Founding Signatories of the Sea Cargo Charter include
Anglo American, ADM, Bunge, Cargill Ocean Transportation,
COFCO International, Dow, Equinor, Gunvor Group, Klaveness
Combination Carriers, Louis Dreyfus Company, Norden, Occidental,
Shell, Torvald Klaveness, Total, Trafigura, and Ørsted.
All other responsible shippers are invited to join the
initiative.
“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,” says
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.
The Sea Cargo Charter is applicable to bulk charterers with
interest in the cargo on board; those who simply charter out the
vessels they charter in; as well as the disponent owners and all
charterers in a charterparty chain. They apply globally, to all
chartering activities where a vessel or vessels fall under the
purview of the IMO.
The development of the Sea Cargo Charter has been led by global
shippers – Anglo American, Cargill Ocean Transportation, Dow,
Norden, Total, Trafigura – and leading industry players –
Euronav, Gorrissen Federspiel, Stena Bulk – with expert
support provided by the Global Maritime Forum, Smart Freight
Centre, University College London Energy Institute/UMAS, and
Stephenson Harwood.
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
* * * * *
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms “Total”, “Total Group” and Group are
sometimes used for convenience. Likewise, the words “we”, “us” and
“our” may also be used to refer to subsidiaries in general or to
those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL SE nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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Sea Cargo Charter Contacts: Torben Vemmelund, head of
Communications l +45 2224 1446 l tve@globalmaritimeforum.org
Total Contacts Media Relations: +33 1 47 44 46 99 l
presse@total.com l Twitter: @TotalPress Investor Relations: +44
(0)207 719 7962 l ir@total.com
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