A Brief Summary

Chevron joins Sea Cargo Charter, an initiative launched last year to cut and track emissions from ships. International Maritime Organization (IMO) aims to reduce overall greenhouse gas emissions by 50% from 2008 levels by 2050. IMO is an agency of the United Nations responsible for regulating shipping.

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As efforts to reduce the maritime industry's carbon footprint intensify, oil major Chevron Corp announced on Thursday that its shipping unit has joined the Sea Cargo Charter, an initiative launched last year to cut and track emissions from ships.

Companies such as Cargill, ADM, and Bunge, as well as oil majors Royal Dutch Shell and Total, and mining group Anglo American, will report annually on whether their overall ship chartering activities are aligned with the International Maritime Organization (IMO) 2050 goals under the Sea Cargo Charter.

By 2050, the International Maritime Organization (IMO), a United Nations agency responsible for shipping regulation, hopes to reduce global greenhouse gas emissions by 50% from 2008 levels.

Chevron Shipping Co, based in San Ramon, California, carries crude oil, liquefied natural gas, and processed energy products.

Chevron announced in October that it would slash operational emissions to zero by 2050, joining a growing list of energy firms reducing their carbon footprint.