Key to supporting the accurate assessment of climate alignment and to creating an equal burden on all Signatories is an enforcement mechanism that ensures that the appropriate data and information are requested by, and provided to, Signatories by their contractual counterparties, the appropriate consents are given for the sharing of data, and appropriate privacy protections are established.
“We will ensure ongoing compliance with the Sea Cargo Charter for new chartering activities through contractual means by using the Sea Cargo Charter Clause in charter parties. We will contribute to the update and addition of the Sea Cargo Charter Clause through the annual review process.”
Signatories will agree to work with ship 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.
The Sea Cargo Charter Clause
The mechanism agreed for the Sea Cargo Charter is a recommended clause to be proposed and included as part of the charter party agreement negotiated with the contractual counterparty. The Sea Cargo Charter Clause – and supporting definitions – is designed to be generic and broad in its nature (so as to be consistent with any charter party form or type of trade) and non-prescriptive (so as to reduce the impulse for amendment from contractual counterparties).
It is hoped that this approach will maximize the appeal and widen the future endorsement of a charter party clause linked to the Sea Cargo Charter.
The Sea Cargo Charter Clause and supporting definitions are available from the Secretariat.