Aligning chartering activities with society’s goals
The Sea Cargo Charter is a framework for assessing and disclosing the climate alignment of ship chartering activities. The Sea Cargo Charter creates a common global baseline that is consistent with and supportive of society’s goals to better enable charterers to align their chartering activities with responsible environmental behavior to promote international shipping’s decarbonization.
The Sea Cargo Charter is supported by a robust and industry-appropriate climate alignment assessment methodology and carefully considered accountability and enforcement requirements that support practical and robust data collection and analysis practices. The Sea Cargo Charter also establishes transparency requirements for Signatories. Thus, assessment of climate alignment, accountability, enforcement and transparency make up the four principles at the core of the Sea Cargo Charter
Principle 1: Assessment of climate alignment
Signatories will, on an annual basis, calculate the GHG emission intensity and total GHG emissions, and will assess climate alignment (carbon intensity relative to established decarbonization trajectories) of their chartering activities using the methodology established by the Sea Cargo Charter.
Principle 2: Accountability
Signatories recognize the important role that verification mechanisms play in providing unbiased information. For each step in the assessment of climate alignment, Signatories will rely exclusively on data types, data sources and service providers identified in the Technical Guidance.
Principle 3: Enforcement
A recommended charter party clause will be made contractual in new business activities to ensure access to high-quality data.
Signatories commit to ensure compliance with the Sea Cargo Charter for new chartering activities through contractual means. Signatories will agree to work with owners, disponent owners and business partners to collect and process the information necessary to calculate carbon intensity and total GHG emissions, and assess climate alignment.
Principle 4: Transparency
The climate alignment scores of Signatories’ eligible chartering activities will be published on an annual basis.