Equinor, Total Commit to Transparent Reporting of Shipping Emissions
Norway's Equinor and France's Total have joined the Sea Cargo Charter, committing them to transparent reporting of shipping emissions, they said in statements.
The shipping industry accounts for 80% of world trade flows and 2-3% of global greenhouse gas emissions, according to the UN. The Sea Cargo Charter establishes a common baseline to quantitatively assess and disclose whether shipping activities are aligned with climate goals. It also counts Shell and Danish wind firm Orsted among its members.
The Sea Cargo Charter is also consistent with the policies of the International Maritime Organisation (IMO), which is striving to bring greenhouse gas emissions from shipping to 50% of the level in 2008 by 2050.
"Sustainable shipping cannot be achieved by one player alone; we have to collaborate and be transparent to deliver on our maritime ambitions. Equinor is delighted to become a signatory of the Sea Cargo Charter, and by joining forces with influential and ambitious charterers we aim to pull the industry in the right direction to make shipping more sustainable," Equinor's vice president for shipping Heidi Aakre said in a statement on October 8.
Equinor is a major vessel charterer, with around 100 ships in its tanker fleet.
"As a broad energy company, we are actively working on improving the environmental footprint of the maritime industry," Total's senior vice president for shipping, Luc Gillet, commented on October 7. "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."
Equinor and Total have both pledged to produce net-zero emissions from their operations within three decades.
The IMO introduced tougher limits on sulphur content in marine fuel this year, driving growth in LNG bunkering. Total launched its first LNG bunkering vessel last year. The IMO is due to revise its policies again in 2023, and the EU is looking to apply its emissions trading system to marine transport to help decarbonise the sector.