MOL Achieves Milestone with Groundbreaking CDR Credits from NextGen Initiative

Mitsui O.S.K. Lines Pioneers Technology-Based CDR Credits

Mitsui O.S.K. Lines (MOL), led by President Go Hashimoto and headquartered in Minato, Tokyo, has made a significant advancement in its commitment to environmental sustainability. Since 2022, the company has been participating in the NextGen Carbon Dioxide Removal (CDR) Facility, a joint purchasing initiative aimed at enhancing the proliferation of CO2 removal technologies. Recently, MOL became the first Japanese shipping company to retire 2,000 tons of technology-based CDR credits sourced from Exomad Green's biochar project in Bolivia.

The CO2 removal credits acquired through the NextGen initiative are crucial because they represent a long-term solution for carbon sequestration. This innovative approach is in its developmental stage, and the demand for such technology-based credits is expected to grow in the future. However, only a limited number of companies globally are currently exploring these options. By purchasing these credits in advance, MOL is not only supporting technological innovation but also driving down costs, thereby contributing to the market’s expansion.

It's essential to note that these credits are not aimed at offsetting the company's greenhouse gas emissions generated directly from its value chain. Instead, they contribute to broader societal emission reductions, embodying the concept of Beyond Value Chain Mitigation.

This initiative aligns with MOL's