The Sea Cargo Charter is consistent with the UN International Maritime Organization's priorities, including reducing GHG emissions by at least 50 percent by 2050.

“It is groundbreaking in what it can unlock. As it is premised on an alignment of vision and collaboration in an otherwise fragmented industry," says Eva Birgitte Bisgaard, Chief Commercial Officer at Maersk Tankers.

The agreement was first signed in October 2020 by a group of the world's leading major companies in oil, agriculture, mining, and commodity trading.

Companies across the maritime universe are already using a variety of different methods for calculating greenhouse gas emissions. The company clarified that this has long needed standardization with clearly defined parameters.

The company has access to cargo and data as a service provider, and by Contract of Affreightment, which it will ensure is in line with SCC through required processes and contractual adjustments.

The organization said it would internally enforce the charter through policies, procedures, and norms. It has also agreed to monitor emissions from its chartering activities on an annual basis and to report publicly how they meet the IMO goals.

Maritime Business World