Mitsui O.S.K. Lines, Ltd. (MOL) announced today that it has been honored with a special award in the Environmentally Sustainable Companies category at the fifth “ESG Finance Award Japan.” The prestigious accolade, sponsored by Japan’s Ministry of the Environment, recognizes MOL’s exceptional commitment to environmentally sustainable management and ESG finance.
The ESG Finance Award Japan, initiated by Japan’s Ministry of the Environment in 2019, applauds institutional investors, financial institutions, intermediaries, and companies for their outstanding efforts in promoting environmentally sustainable practices and ESG finance. MOL’s noteworthy initiatives have set a new benchmark in the industry, marking the first time a shipping company has received this esteemed award.
Tatsuro Watanabe, MOL Chief Environment Sustainability Officer, received the award at the ceremony. He highlighted the significance of MOL’s proactive approach in incorporating “significant environment-related opportunities and risks” into their management strategies, aligning with the company’s commitment to creating positive environmental benefits while enhancing corporate value.
The Environmentally Sustainable Companies category acknowledges businesses that contribute to environmental benefits while increasing corporate value. The “Special Award” is a testament to MOL’s outstanding efforts in this domain. This year’s awards featured Gold, Silver, Bronze, and Special categories, with MOL securing the Special Award.
The judging panel recognized MOL’s groundbreaking initiatives on the “Wind Challenger,” a technology that converts wind energy directly into propulsion for vessels. The technology’s versatile applications, including clean energy carriers, are expected to play a pivotal role in reducing Scope 3 emissions across diverse industries. The judges commended MOL’s strategic outlook on wind power use, emphasizing the roadmap, investment plan, and the establishment of key performance indicators (KPIs).
MOL has identified five sustainability issues (materiality) as social priorities, addressing environmental challenges through its “MOL Sustainability Plan.” The company has integrated environmental strategy as a key element of its management plan, known as “BLUE ACTION 2035.” The recent shift from “MOL Group Environmental Vision 2.1” to “MOL Group Environmental Vision 2.2” demonstrates MOL’s commitment to continuous improvement, with interim milestones and specific emission reduction pathways.
Aligned with the MOL Group Corporate Mission of “Supporting people’s daily lives and opening up a prosperous future from the blue oceans,” MOL strives to be a resilient and flexible corporate group. The company aims to grow globally, delivering new value to stakeholders by enhancing both economic and social value.
