Mitsui O.S.K. Lines (MOL), a major player in Japan’s maritime sector, has become the first in the industry nationwide to officially retire carbon dioxide removal (CDR) credits.
The company secured 2,000 tons of technology-based CDR credits through the NextGen facility, sourced from a Bolivian biochar initiative spearheaded by Exomad Green. The project uses biomass to produce biochar—a carbon-rich material that can sequester carbon for long durations.
MOL sets new course
This move signals a shift in MOL’s climate strategy, marking a departure from traditional emission reduction efforts toward tangible carbon removal. The company described the milestone as a “significant” stride in maritime sustainability.
MOL believes the market for technology-based carbon removal credits—designed to extract and store carbon dioxide for centuries—is poised for substantial growth. However, the sector remains nascent, with high costs and limited accessibility restricting widespread adoption. Currently, only a select group of organizations are engaging in purchases and permanent retirement of these credits.
The initiative supports MOL’s broader climate ambitions. Under its Environmental Vision 2.2 plan, the company aims to remove 2.2 million tons of CO₂ by 2030, paving the way for carbon neutrality by 2050. As climate regulations tighten and decarbonization pressures mount, MOL’s early move into carbon removal technologies could position it as a leader in next-generation maritime sustainability.
NYK also interested in carbon removal
Japanese shipping giant NYK has partnered with Climeworks in a three-year deal to purchase carbon dioxide removal (CDR) credits from a diverse portfolio of technologies.
In addition to direct air capture (DAC), the credits will include methods such as biochar, BECCS, afforestation/reforestation, and enhanced rock weathering. This agreement marks a step forward in NYK’s broader decarbonization strategy.
Separately, NYK and ENEOS have signed a five-year collaboration set to begin in 2028. Under this partnership, ENEOS will supply NYK with marine fuel bundled with CDR credits sourced from 1PointFive’s STRATOS DAC facility in Texas, expected to begin operating in 2025.
The credits represent carbon permanently removed from the atmosphere and stored underground, supporting NYK’s efforts to decarbonize its fuel supply and align with long-term climate goals.
Read more: NYK To Buy Marine Fuel With Carbon Removal Credits From ENEOS
AloJapan.com