#Japan #Tokyo #Shell #MOL #Low-Carbon Fuels

MOL has joined forces with Shell to leverage low-carbon marine fuels, offering innovative solutions that enable their customers to reduce greenhouse gases (GHG). The initiative introduces a mechanism for providing environmental attribute certificates, confirming the GHG emissions reductions associated with low-carbon fuel use on third-party vessels. This marks a significant step towards more sustainable practices in maritime transport, showcasing a commitment to environmental stewardship.

How It Works

The collaboration outlines specific roles for both MOL and Shell. The process begins with Shell converting the fuel used by a third-party shipping company from very low sulfur fuel oil (VLSFO) to a type of low-carbon biofuel known as fatty acid methyl ester (FAME), achieving substantial GHG reductions. These reductions create valuable environmental attributes that can be passed back from the third-party shipping company to Shell. Shell then registers these attributes with the 123Carbon registry, allowing for careful management.

Once this transfer happens, MOL receives these environmental attributes, which are subsequently converted into environmental attribute certificates following the guidelines of the MBM framework. Through their “BLUE ACTION NET-ZERO ALLIANCE” carbon insetting program, MOL can now offer low-carbon maritime transport solutions to their clients.

Expanding Decarbonization Options

This new capability allows MOL to provide flexible decarbonization solutions beyond their fleet, addressing a wider range of customer needs in the pursuit of reduced carbon footprints. Furthermore, it signals a collaborative potential among various stakeholders within the shipping ecosystem, establishing a collective effort towards more effective decarbonization strategies.

Environment Vision 2035

This initiative aligns with the group's commitment under its environmental vision, titled “BLUE ACTION 2035 Phase 2,” which emphasizes the need for robust mechanisms like carbon insetting to enhance the effectiveness of reduction efforts. Looking ahead, MOL will seek additional collaboration opportunities with Shell, expanding their offerings of environmental attribute certificates not only in maritime transport but also to aviation and land transport sectors.

Conclusion

MOL’s partnership with Shell represents a significant advancement in sustainable maritime practices, harnessing the potential of low-carbon fuels to drive real change in the industry. By providing transparent verifications and environmental attributes, MOL enhances its service offerings while contributing to the broader goal of sustainability in global shipping.

For more information regarding the BLUE ACTION NET-ZERO ALLIANCE program, visit MOL Solutions.