In October 2020, LDC became one of the founding signatories of the Sea Cargo Charter, a pioneering multi-stakeholder initiative that aims to champion responsible and sustainable shipping, transparent climate reporting and improved decision-making in line with the policies and decarbonization ambitions adopted by the International Maritime Organization (IMO).
As a key facilitator of world trade, representing around 80% of global flows, it is critical that the maritime sector addresses the climate impacts of international shipping activities, which are responsible for 2-3% of global annual greenhouse gas (GHG) emissions, according to the IMO.
The Sea Cargo Charter establishes a common baseline for shipping industry leaders to quantitatively assess and disclose shipping activity alignment with climate goals, including an ambition to reduce total annual GHG emissions by at least 50% of 2008 levels by 2050, with a strong emphasis on targeting zero emissions.
As a signatory, LDC commits to accurately measuring the GHG emissions of its chartering activities. Following stringent guidelines, we will assess our climate alignment relative to established decarbonization trajectories and report results on an annual basis. We also commit to making compliance with the Sea Cargo Charter contractually part of new chartering activities, working with shipowners and other partners to meet this requirement.
We welcome the establishment of the Sea Cargo Charter as an initiative that reflects our commitment to work collaboratively toward more sustainable business practices, and builds on existing efforts to reduce the environmental impact of our global activities.
“Harmonizing the assessment of maritime industry climate impacts is in the continuity of our company’s transparent reporting efforts, and aligned with our convictions,” said Sebastien Landerretche, Head of LDC’s Freight Platform. “Collaboration is key to the success of sustainable development, and aligning responsible charterers in the drive to reduce shipping emissions should be one of the pillars toward this goal.”