NYK Disseminates Its Decarbonization Initiatives at COP29 Highlighting issues facing the international shipping industry

NYK Group management discussed international shipping and the Group’s specific initiatives to address climate change in discussions at various events during the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (“COP29”) held in Baku, Azerbaijan, from November 11 to 22.

At COP29, many side events were hosted by national governments and related industry organizations to disseminate information on efforts to address climate change, and various panel discussions were held to encourage active discussion among participants. Akira Kono, NYK representative director and executive vice president who is also chief of NYK’s ESG Strategy Headquarters, appeared as a panelist at the Japan Pavilion, where he actively communicated the Group’s decarbonization initiatives and issues facing the international shipping industry. The event was broadcast online simultaneously, and NYK’s initiatives were widely promoted to many viewers outside the COP29 venue.

NYK actively exchanged opinions and gathered information with the various organizations and people who visited the event. We will use our COP29 participation to work with even more partners and actively contribute to realizing a sustainable future.

Events Featuring NYK Management

Akira Kono, Representative Director and Executive Vice President, Chief of ESG Strategy Headquarters

– November 19: “Creating Future: Our Approach to Decarbonized Society,” Nikkei Net-Zero Project Special Seminar
– Organizer: Nikkei Inc.
– Summary: We explained the progress of the new decarbonization targets set out in the NYK Group Decarbonization Story announced in November 2023 and our three specific actions: completion of an ammonia-fueled tugboat, promotion of the use of biofuels, and improvement of energy efficiency.
Kono discussed the challenges and other issues facing companies moving from the determination to the implementation phase with Yukari Takamura, professor at the Institute for Future Initiatives at the University of Tokyo, and Kiyoshi Ando, senior staff writer at Nikkei Inc.

– Organizer: Japan Climate Initiative (JCI)
– Summary: Participating companies held a panel discussion on the initiatives and issues involved in achieving the 1.5°C target. As an international shipping company, we are in a position where we are required to promote climate change measures that transcend the frameworks of individual countries. We pointed out that it is necessary to establish unified international rules and coordinate closely with stakeholders to ensure everyone is on the same page.

NYK-related Exhibits

– Development status of GHG monitoring technology from satellites exhibited at the partner company booth

At the Japan Pavilion, Arc Edge Space Inc. exhibited a geospatial data platform that can be used to detect, identify, and analyze environmental changes and risks by combining data from various satellites and ground sensors. This included a display of the development status of GHG monitoring technology using satellites. NYK is participating in verifying this technology.
The exhibition panel introduced the results of a remote sensing experiment on changes in GHG emissions according to the co-firing ratio of ammonia and fuel oil, assuming an ammonia-fueled ship. NYK led this experiment, which was carried out with multiple partner companies.

Emissions data is becoming increasingly important in an era when reducing GHG emissions during cargo transport is valuable for reducing Scope 3 GHG emissions for many stakeholders. We are promoting satellite monitoring as part of our efforts to ensure transparency through third-party monitoring.
Source: Nippon Yusen Kaisha