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Tata Steel join the Sea Cargo Charter to reduce 'Scope 3' greenhouse gas emissions in ocean trade

Posted On: 2021-09-27 23:31:55 (Time Zone: IST)


In line with its sustainability objectives and initiatives on reduction of Scope 3 greenhouse gas emission in ocean trade, Tata Steel joined the Sea Cargo Charter (SCC) on September 3, 2021. Tata Steel becomes the first steel producing signatory of the Sea Cargo Charter. The Company is the 24th organisation to join the association working to reduce environmental impacts of global seaborne cargo.

Peeyush Gupta, Vice President, Supply Chain, Tata Steel, said: "As a leader in the steel industry which continuously sets benchmark in sustainable operations, it is imperative that we look at Scope 3 emissions with similar alacrity. With our seaborne global volume in excess of 40 million tonnes per annum, this is a decisive step in the direction to measure correctly and mitigate efficiently & innovatively."

Ranjan Sinha, Chief Group Shipping and Director Raw Material Procurement, Tata Steel, said: "Tata Steel is pleased to be a signatory of Sea Cargo Charter. As a leading global player in steel and having an impeccable reputation for Corporate Governance, it is befitting that we join hands with world's leading organisations across the industry sectors in making efforts towards sustainable shipping. While the manufacturing sector focusses on Scope 1 and 2 emissions, we would like to think beyond compliance and take actions on Scope 3 emissions. We are committed to aligning our chartering activities with responsible environmental behaviour."

Shares of TATA STEEL LIMITED was last trading in BSE at Rs. 1271 as compared to the previous close of Rs. 1271.9. The total number of shares traded during the day was 377792 in over 10822 trades.

The stock hit an intraday high of Rs. 1288.95 and intraday low of 1261.55. The net turnover during the day was Rs. 481639816.


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