TOKYO – Mitsui O.S.K. Lines, Ltd. (MOL) and Marubeni Corporation have joined forces to establish a new company dedicated to the creation, purchase, sale, and retirement of nature-based carbon removal credits. The newly formed venture, Marubeni MOL Forests Co., Ltd., aims to contribute to environmental preservation and sustainable development by leveraging the power of forests to capture carbon emissions.
The initiative comes in response to the increasing global emphasis on decarbonization. As corporations and governments intensify efforts to meet ambitious climate targets, nature-based carbon removal credits have emerged as a crucial component in the transition to net-zero emissions. These credits, derived from activities such as afforestation and carbon capture, offer a tangible way to offset greenhouse gas emissions while providing additional environmental benefits, including biodiversity conservation and soil restoration.
Marubeni MOL Forests will initially focus on developing afforestation projects across 10,000 hectares in India, with plans to begin generating carbon credits by 2028. The company envisions a future where carbon removal credits play a significant role in achieving sustainability goals, with forests serving as vital natural assets in the fight against climate change.
According to Yasuchika Noma, MOL’s Managing Executive Officer and Deputy Director General of the Headquarters of Energy Business, the collaboration reflects a shared vision to harness natural solutions for decarbonization. “We believe that forests have immense potential to act as carbon sinks while fostering environmental stewardship and economic growth,” he stated.
Marubeni Corporation, known for its diversified global operations, has positioned sustainability at the core of its long-term strategy. Since unveiling its climate action roadmap in 2021, the company has focused on renewable energy projects, sustainable forest management, and initiatives to generate and trade carbon credits. Koichi Geshi, Marubeni’s Executive Officer and Chief Operating Officer of the Forest Products Division, highlighted the importance of the new venture in advancing Marubeni’s green strategy, stating that the partnership with MOL aligns with their commitment to a decarbonized future.
MOL, a global shipping giant, has been actively pursuing environmental initiatives under its BLUE ACTION 2035 plan. The company has set ambitious targets, including achieving net-zero greenhouse gas emissions across its operations by 2050. This latest partnership underscores MOL’s commitment to expanding beyond its core shipping business and investing in sustainable solutions that align with its environmental vision.
The market for carbon credits continues to evolve, driven by increasing regulatory pressures and corporate sustainability commitments. Nature-based solutions, such as afforestation and reforestation, are gaining traction as they offer multiple benefits beyond carbon sequestration. By investing in projects that support ecosystem restoration, Marubeni MOL Forests aims to deliver high-quality carbon credits that contribute to global environmental goals.
Industry experts note that the voluntary carbon market is expected to grow substantially in the coming years, with demand surging as companies seek credible ways to offset their emissions. The collaboration between MOL and Marubeni positions the new venture to capitalize on this growth by offering verifiable and impactful carbon removal solutions.
Looking ahead, Marubeni MOL Forests plans to explore additional opportunities for forest-based carbon credit projects in other regions, leveraging the strengths of both parent companies to scale operations and drive meaningful climate action.
As governments and businesses worldwide strive to meet their climate pledges, initiatives like this reflect the growing recognition that nature-based solutions are essential to tackling the climate crisis. With its focus on people and forests, Marubeni MOL Forests aims to pave the way for a greener and more sustainable future.
