Tata Steel joins Sea Cargo Charter as part of sustainability goals
Steel

Tata Steel joins Sea Cargo Charter as part of sustainability goals

Steel manufacturing major Tata Steel has joined the Sea Cargo Charter (SCC) as part of its sustainability goals and measures to minimise Scope 3 greenhouse gas emissions in ocean trade.

The company is the 24th organisation to join SCC, which works to reduce the environmental impacts of global seaborne cargo. It is also the world's first steel producer to sign on as a signatory.

SCC has already gathered 24 signatories since its launch in October 2020.

With a seaborne global volume of over 40 million tonnes per year, Peeyush Gupta, Vice President of Supply Chain at Tata Steel, said it is a major step in the direction of measuring correctly and mitigating efficiently and innovatively.

SCC establishes a global benchmark to assess and disclose whether chartering activities are consistent with the International Maritime Organisation's (IMO) climate goals .

According to carbon accounting standards, a company's direct emissions are referred to as Scope 1 emissions, while electricity usage is referred to as Scope 2 emissions, and value chain emissions are referred to as Scope 3 emissions, which are the types of activities performed within a company's supply chain, from sourcing and shipping to delivering and disposing of goods.

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Also read: Tata Steel launches 5 TPD carbon capture plant in Jamshedpur

Steel manufacturing major Tata Steel has joined the Sea Cargo Charter (SCC) as part of its sustainability goals and measures to minimise Scope 3 greenhouse gas emissions in ocean trade. The company is the 24th organisation to join SCC, which works to reduce the environmental impacts of global seaborne cargo. It is also the world's first steel producer to sign on as a signatory. SCC has already gathered 24 signatories since its launch in October 2020. With a seaborne global volume of over 40 million tonnes per year, Peeyush Gupta, Vice President of Supply Chain at Tata Steel, said it is a major step in the direction of measuring correctly and mitigating efficiently and innovatively. SCC establishes a global benchmark to assess and disclose whether chartering activities are consistent with the International Maritime Organisation's (IMO) climate goals . According to carbon accounting standards, a company's direct emissions are referred to as Scope 1 emissions, while electricity usage is referred to as Scope 2 emissions, and value chain emissions are referred to as Scope 3 emissions, which are the types of activities performed within a company's supply chain, from sourcing and shipping to delivering and disposing of goods. Image SourceAlso read: Tata Steel launches 5 TPD carbon capture plant in Jamshedpur

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