Dow joins industry leaders, shippers and experts to commit to transparent reporting of shipping emissions
- Continuing progress to address climate protection and achieve a more sustainable future
MIDLAND, Mich. – November 24, 2020 – Dow (NYSE: DOW) joins other industry players, global shippers and experts as a developer and founding signatory of the Sea Cargo Charter, which brings together for the first time the world’s largest energy, agriculture, mining, and commodity trading companies to assess and disclose the climate alignment of their shipping activities. Together, member organizations have set a new benchmark for responsible shipping, transparent climate reporting, and improved decision making in line with United Nations decarbonization targets.
“The shipping industry can play a huge role in reducing carbon emissions,” commented Greg Jozwiak, chief supply chain officer and vice president of Dow Integrated Supply Chain. “The common framework and stronger partnerships formed through the Sea Cargo Charter will help activate the entire value chain to take a stronger role in reducing emissions and contribute to a more sustainable industry and world.”
This is one of several ways Dow is taking a leadership role to address climate change and collaborate with like-minded partners to help lead the transition to a sustainable planet and society.
“Committing to the Sea Charter is another step toward advancing our sustainability journey and addressing climate protection through industry collaboration,” said Mary Draves, Dow’s chief sustainability officer and vice president of Environment, Health and Safety. “The future of our planet will depend on a shift in mindset. Together, industry leaders must enable the right conditions for long-term success, including fostering a collaborative culture, adopting a forward-looking, long-term vision and being engaged partners.”
“A standard greenhouse gas emissions reporting process will simplify some of the complexities often associated with reporting. It will encourage a more transparent and consistent approach to tracking emissions, which will be a critical part of making shipping more sustainable,” says Jan Dieleman, president, Cargill Ocean Transportation and chair of the Sea Cargo Charter drafting group.
In June, 2020, Dow announced aggressive new commitments to address both climate change and plastic waste on its path toward becoming the most innovative, customer-centric, inclusive and sustainable materials science company in the world. These new targets build on Dow’s long history of setting ambitious 10-year sustainability goals. Read more about the Company’s 2025 Sustainability Goals and new targets in the latest sustainability report.
The Sea Cargo Charter establishes a common baseline to quantitatively assess and disclose whether shipping activities are aligned with adopted climate goals. It represents an industry-led initiative to standardize how emissions are measured in the bulk marine transportation mode which will encourage a more consistent approach to tracking emissions and reduce the carbon footprint across the shipping industry.
Over time, the Sea Cargo Charter is intended to evolve as the International Maritime Organization adjusts its policies and regulations and when further adverse environmental and social impacts are identified for inclusion. They also aim to support other initiatives developed to address climate, environment, and social risks in shipping, such as the Poseidon Principles.
The 17 Founding Signatories of the Sea Cargo Charter include ADM, Anglo American, Bunge, Cargill Ocean Transportation, COFCO International, Dow, Equinor, Gunvor Group, Klaveness Combination Carriers, Louis Dreyfus Company, Norden, Occidental, Shell, Torvald Klaveness, Total, Trafigura, and Ørsted. All other responsible shippers are invited to join the initiative.
Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company’s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure and consumer care. Dow operates 109 manufacturing sites in 31 countries and employs approximately 36,500 people. Dow delivered sales of approximately $43 billion in 2019. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.
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