Chevron subsidiary joins CO2 emissions reduction initiative!

Chevron (CVX.US) announced that its subsidiary Chevron Shipping has joined the Sea Cargo Charter initiative, which works to reduce CO2 emissions in the maritime industry, responsible shipping and more efficient decarbonization. Operators in the organization are obliged to provide information on the compliance of their activities with IMO (United Nations International Maritime Organization) recommendations. The IMO's main objective is to reduce total CO2 emissions by at least 50% by 2050 (from 2008 levels). Chevron Shipping is engaged in the transportation of crude oil, liquefied natural gas and refined products. The entity is a key part of the oil and gas giant's operating business.

"The Sea Cargo Charter provides a global standard for reporting shipping emissions that advances the decarbonization of the maritime industry. We are excited to join and partner with Sea Cargo Charter to enhance the transparency and accuracy of reporting which will promote responsible environmental performance," said Chevron subsidiary president Mr Jan Dieleman.

Chevron (CVX.US) stock chart, interval W1. Share prices have been moving in an uptrend since the beginning of the crash caused by the emergence of the Covid-19 outbreak. The stock is trading close to local peaks from the end of 2019, near $123 per share. Closest fundamental support is the level of $112 per share, from which the price has bounced many times. Source: xStation 5