Tata Steel, a global leader among steel companies with an annual crude steel capacity of 34 million tonnes per annum and turnover of over $21 billion, became the first steel producer in the world to join the Sea Cargo Charter (SCC), a global initiative to reduce greenhouse gas emissions (GHG) in ocean trade.

Tata Steel is the 24th organisation to join the association working to reduce environmental impacts of global seaborne cargo, an official statement said.

SCC is attempting to establish a common, global baseline to quantitatively assess and disclose whether chartering activities are in line with the climate goals set by the UN maritime agency, the International Maritime Organization (IMO).

Signatories of SCC also include Anglo American, Bunge, Cargill, Dow, Maersk Tankers and Shell.

The IMO’s initial strategy aims to reduce the total annual GHG emissions generated by shipping activity by at least 50 percent of 2008 levels by 2050.

Over 150 industry leaders and organisations recently called for regulatory action to ensure full decarbonisation of the global shipping industry by 2050.

Peeyush Gupta, vice president, supply chain, Tata Steel, said: “As a leader in the steel industry continuously setting benchmarks 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 & innovatively.”

Source : ITLN