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Tata Steel first steel producer as signatory to Sea Cargo Charter to meet climate goals

Jamshedpur, September 27: In line with its sustainability objectives and initiatives on reduction of Scope 3 greenhouse gas emission in ocean trade, Tata Steel joined the Sea Cargo Charter (SCC) on September 3, 2021. Tata Steel becomes the first steel producing signatory of the Sea Cargo Charter. The Company is the 24th organisation to join the association working to reduce environmental impacts of global seaborne cargo.

Peeyush Gupta, Vice President, Supply Chain, Tata Steel, said: “As a leader in the steel industry which continuously sets benchmark 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.”

Ranjan Sinha, Chief Group Shipping and Director Raw Material Procurement, Tata Steel, said: “Tata Steel is pleased to be a signatory of Sea Cargo Charter. As a leading global player in steel and having an impeccable reputation for Corporate Governance, it is befitting that we join hands with world’s leading organisations across the industry sectors in making efforts towards sustainable shipping. While the manufacturing sector focusses on Scope 1 and 2 emissions, we would like to think beyond compliance and take actions on Scope 3 emissions. We are committed to aligning our chartering activities with responsible environmental behaviour.”

Launched in October 2020, the SCC establishes a common, global baseline to quantitatively assess and disclose whether ship chartering activities are in line with climate goals set by the United Nations maritime agency, the International Maritime Organisation (IMO).

The IMO’s Initial GHG Strategy sets out its ambitions to reduce total annual Greenhouse Gas (GHG) emissions generated by shipping activity by at least 50 per cent of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century.

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