Mitsui O.S.K. Lines, Ltd. (MOL), a prominent Japanese shipping company, made waves at the World Economic Forum in Davos, Switzerland, by being the sole representative from Japan in the crucial discussions on decarbonization. President & CEO Takeshi Hashimoto took the stage as a panelist, contributing insights to the “First Movers for Frontier Clean Technologies” session hosted by the First Movers Coalition (FMC).
The FMC, an alliance that includes MOL, focuses on catalyzing demand for decarbonization technologies. The session, held on January 16, provided a platform for global business leaders, financial experts, and policy officials to showcase the progress of the coalition and its initiatives toward commercializing innovative clean solutions. President Hashimoto emphasized the urgency of action, stating, “If we all continue to wait and see, we will not make any progress.”
Hashimoto reiterated MOL’s commitment to being a first mover in the shipping industry’s decarbonization journey. He stressed the need to move forward ambitiously once a basic policy is established, urging collaboration with partners to drive meaningful change. The president’s message aligns with MOL’s active role in the carbon dioxide removal (CDR) sector through the FMC.
A notable highlight at the session was the screening of a video showcasing the FMC’s efforts and progress. The video included an example of MOL’s contributions to the cause. In the CDR sector, MOL recently released a white paper titled “Carbon Dioxide Removal: Best-Practice Guidelines” on January 2. The paper features insights from Koda, General Manager of MOL’s Carbon Business & Project Team.
Beyond discussions, MOL demonstrated its commitment to transparency and environmental responsibility by applying for “TNFD (Task Force on Nature-related Financial Disclosures) Adopter” status. The company was recognized as a “TNFD Early Adopter” during the Davos Forum, indicating its dedication to disclosing nature-related information in either FY 2024 or FY 2025.
The engagement of MOL’s Chief Environment Sustainability Officer, Watanabe, at a reception for registered companies further underscored the company’s commitment to fostering meaningful discussions and collaborations in the pursuit of sustainable practices.
MOL Group, aligning its strategies with its “BLUE ACTION 2035” management plan, has set an ambitious target of achieving net-zero greenhouse gas (GHG) emissions by 2050, as outlined in the “MOL Group Environmental Vision 2.2.” As a trailblazing integrated shipping company, MOL is actively exploring clean alternative fuels and advocating for the widespread adoption of negative emission practices.
In a world grappling with the challenges of climate change, MOL stands out as a pioneer in the shipping industry, steering towards a sustainable and decarbonized future.
