MOL To Join “First Movers Coalition” As The First Japanese Company

MOL established the MOL Group Environmental Vision 2.1 in June 2021 as a guide to realizing a sustainable society and is committed to adopting clean alternative fuels, promoting wider adaptation of negative emissions, and achieving net-zero GHG emissions, as a pioneer among Japanese ocean shipping companies.

The company will ensure a prosperous future from the blue oceans by contributing to the sustainable growth of people, society, and the planet, to benefit all life in the next generation.

(Note 1) FMC is an initiative launched in cooperation of the World Economic Forum and the Hon. John F. Kerry, Special Presidential Envoy for Climate at COP26 held in November 2021. It aims to quickly create markets and develop and promote decarbonization technology, backed by major companies pledging to purchase important technologies and services by 2030 to achieve zero emissions.

As a panelist, MOL President & CEO Hashimoto (2nd from right) participates in the Accelerating Shipping Decarbonization and the Global Transition session at Davos meeting
Image Credits: mol.co.jp

(Note 2):
Facility for technical carbon removals being launched by major corporations

(Note 3) It is called “Carbon Dioxide Removal (CDR) or “negative emission,” referring to removing and storing CO2 from the atmosphere. There are two main categories – nature-based solutions that increase CO2 absorption in nature such as forests and blue carbon; and technology-based solutions that remove CO2 from the atmosphere by using chemical engineering technologies.

(Note 4) It was the only session on the theme of decarbonization of ocean shipping at this year’s Davos meeting. The ocean shipping industry plays an important role in the world economy.

As a panelist, MOL President & CEO Hashimoto (4th from right) participates in the NextGen CDR
Image Credits: mol.co.jp

The promotion of decarbonization of ocean shipping brings wide benefits to global supply chains. Under the participation of the Hon. John F. Kerry, U.S. Special Presidential Envoy for Climate, the participants discussed how the industry promotes decarbonization, by using synergetic effects of overall value chains and deepening cooperation with cargo owners.

MOL’s five Sustainability Issues

MOL Group will contribute to realising 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 ” Safety & Value -Provide added value through safe transportation and our social infrastructure business-“, “Environment -Conservation for Marine and global environment-” and “Innovation -Innovation for development in marine technology-“.

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Image Credits: mol.co.jp

Reference: mol.co.jp

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