MOL Conducts Carbon-offset Voyage with Car Carrier- Offsetting CO2 Emissions from Ocean Transport of Completed Cars for Europe
Mitsui O.S.K. Lines, Ltd. announced that one of the company’s car carriers completed a carbon-offset voyage for the ocean transportation of completed cars from Japan to Europe by using voluntary carbon credits (Note 1). This initiative was conducted as a pilot case to study the specific use of carbon credits in ocean shipping to compensate carbon dioxide (CO2) emissions, which are difficult to reduce using currently available technology.
Completed cars from Mazda Motor Corporation (Representative Director, President and CEO: Akira Marumoto; Headquarters: Aki-gun, Hiroshima Prefecture) were loaded on the MOL-operated Beluga Ace, and the vessel departed the Port of Hiroshima on April 18, arrived at the Port of Bristol, the U.K., on May 28.
CO2 emissions during the voyage between Japan and Europe reached about 4,000 tons including all processes from production through consumption of fuel oil. The calculation method of the volume was properly verified by the third-party verification body Bureau Veritas. The entire process, from calculating CO2 emissions including the verification process to compensating all CO2 emissions with carbon credits, was also certified by the third-party certification body Climate Neutral Commodity (Note 2).
MOL used carbon credits generated from afforestation and reforestation projects in Ghana and China (Note 3) for this initiative. Both projects are certified by the international carbon credit standard management body Verra (Note 4), and the credits were generated within the past five years. In addition, these projects contribute not only to absorbing and removing CO2 from the atmosphere (Note 5), but also to several co-benefits such as biodiversity conservation and job creation for local communities.
MOL Group aims to achieve net zero greenhouse gas (GHG) emissions by 2050 in the “MOL Group Environmental Vision 2.1” announced in June 2021. We are committed to achieving net-zero GHG emissions by maximizing emission reduction efforts, such as research and development of zero-emission fuels and replacement of vessels with low-carbon vessels, and also by utilizing carbon credits and creating natural and technology-based negative emissions through co-creation with various stakeholders.[MOL Group 5 Sustainability Issues] MOL Group will contribute to realize a sustainable society by promoting responses to the sustainability issues, which are identified as social issues that must be addressed with priority through the business.
We anticipate this initiative to contribute especially to the realization of “Environment -Conservation for Marine and global environment-” and “Human & Community -Contributing to the growth and development of people and communities-“.
Source: Mitsui O.S.K. Lines, Ltd