NYK and Yusen Logistics to introduce platform to manage GHG-emission reductions

Process for managing and allocating GHG-emission reductions:

NYK: Generates and manages GHG-emission reductions through the use of biofuels in its bulk shipping business, recognises the environmental value of these reductions, then allocates them to YL and issues a certificate of confirmation. The first allocation will be completed on the platform after verification by a third-party certification organisation.

YL: Procures GHG-emission reductions generated by ocean shipping companies like NYK and its airline partners and provides accompanying certificates. Additionally, for land transport, YL will utilise sustainable fuels derived from waste cooking oil and other renewable materials to power its own trucks in some countries and areas, actively creating and managing GHG-emission reductions as a transport operator. A one-stop service on the platform will be officially launched by YL shortly.

Key features of the platform:

Customers can monitor GHG-emission reduction methods and the alternative fuels used to generate the reductions.

The management and allocation of GHG-emission reductions are secured using blockchain technology to prevent data tampering.

The entire process, from calculating GHG-emission reductions to allocating, is verified by a third-party certification organisation to ensure the platform's reliability and transparency.

Achieving a decarbonised society is a global challenge that must be tackled head-on. Companies require close collaboration with customers, partners, and other stakeholders to reduce Scope 3 GHG-emissions from transportation. By leveraging our expertise as a comprehensive global logistics group, we will contribute to reducing GHG-emissions in customers' supply chains by launching a one-stop service that enables appropriate allocation of GHG-emission reductions created by each transport mode.

Comment from Jeroen van Heiningen, Managing Director, 123Carbon: “We welcome NYK and YL as new users to our advanced platform. They are not only using our registry services, but have also adopted our branded platform, allowing them to directly involve their customers in their low carbon activities. We are looking forward to executing this trial and collaborating with NYK and YL on this exciting topic."

Read the article online at: https://www.drybulkmagazine.com/environment-sustainability/19122024/nyk-and-yusen-logistics-to-introduce-platform-to-manage-ghg-emission-reductions/