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MOL to join ‘First Movers Coalition’

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Dry Bulk,

Mitsui O.S.K. Lines, Ltd (MOL) has announced that on 25 May 2022, it participated in the First Movers Coalition (FMC), which was established to boost demand for decarbonisation technology at the World Economic Forum Davos Agenda. MOL is the first Japanese company to take part in FMC, a platform aimed at helping governments and major global companies cooperate to launch technologies needed to achieve ‘net zero emissions by 2050’ and enhance cost competitiveness. Through the NextGen CDR Facility, which was announced prior to its participation in FMC, MOL is committed to purchasing at least 50 000 t of verified carbon dioxide removals (CDR) by the end of 2030.

On 23 May 2022, MOL President and CEO, Hashimoto, was invited to serve as a panellist at a session called ‘Accelerating Shipping Decarbonization and the Global Transition’, organised by the Global Maritime Forum and Yara International, at the Davos meeting. With partners that form supply chains, Hashimoto reiterated MOL's commitment to proactively adopt clean alternative fuels for decarbonisation of ocean shipping.

MOL established the MOL Group Environmental Vision 2.1 in June 2021 as a guide to realise a sustainable society, and is committed to adopting clean alternative fuels, promoting wider adaptation of negative emissions, and achieving net zero greenhouse gas emissions, as a pioneer among Japanese ocean shipping companies. The company will ensure a prosperous future from the blue oceans by contributing to sustainable growth of people, society, and the planet, to benefit all life in the next generation.

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