Equinor has joined a group of the world’s largest companies with shipping activity, including Shell, Total, Ørsted, that will for the first time assess and disclose the climate alignment of their shipping activities.

United Nations agencies estimate the international shipping industry to carry around 80% of world trade flows and to be responsible for 2-3% of global greenhouse gas emissions annually. Large industrial corporations are significant users of international shipping services.

The Sea Cargo Charter has been developed by a group of charterers to measure and report climate alignment. The ambition is to be transparent on environmental performance to drive improvements.

By calculating how effectively each charterer uses its fleet of vessels, and publishing the results, the group hopes to promote openness and accountability in the wider industry. The target is to be in line with the ambitions of the UN’s International Maritime Organization, and by introducing a common way of calculating alignment it will be easier to have a united front and increase awareness in the industry.

“Sustainable shipping cannot be achieved by one player alone; we have to collaborate and be transparent to deliver on our maritime ambitions. Equinor is delighted to become a Signatory of the Sea Cargo Charter, and by joining forces with influential and ambitious charterers we aim to pull the industry in the right direction to make shipping more sustainable.

“With around 100 ships in our tanker fleet, we are a significant charterer in the shipping market. We have recently launched our maritime climate ambitions with clear targets for 2030 and 2050. The signing of the Sea Cargo Charter is for us a step towards joining forces with the shipping industry in reaching these targets.”

Heidi Aakre, vice president for Shipping in Equinor.