Chevron's Shipping Unit Joins Initiative to Cut Emissions

Oil major Chevron Corp said on Thursday, its shipping unit has joined the Sea Cargo Charter, an initiative launched last year to cut and track emissions from ships, as efforts intensify to reduce the maritime industry's carbon footprint.

Under the Sea Cargo Charter, companies, including agrigroups Cargill, ADM, and Bunge, oil majors Royal Dutch Shell and Total, and mining group Anglo American will disclose annually whether their overall ship chartering activities are aligned with International Maritime Organization (IMO) 2050 goals.

IMO, an agency of the United Nations responsible for regulating shipping, aims to reduce overall greenhouse gas emissions by 50% from 2008 levels by 2050.

Based in San Ramon, California, Chevron Shipping Co transports crude oil, liquefied natural gas and refined energy products. Chevron in October set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint.

 (Reporting by Arunima Kumar in Bengaluru; Editing by Vinay Dwivedi)