Aiming at net zero GHG emissions by 2050 – introducing ‘MOL Group Environmental Vision 2.1’

Mitsui O.S.K. Lines, Ltd. today announced the establishment of “MOL Group Environmental Vision 2.1” as a guide to achieve net zero GHG emissions by 2050 and realizing a sustainable society.

MOL strives to reduce greenhouse gas (GHG) emissions generated by its business activities and by society at large, and is working closely with leading companies and industries to become a game changer in clean energy supply chains.

The new vision is an upgrade to “MOL Group Environmental Vision 2.0” announced in June 2020. The company analyzes scenarios, adopting the framework of the Task Force on Climate-related Financial Disclosures (TCFD)*. It addresses environmental issues by setting higher targets, in response to accelerating advances in global trends and technological innovation.

※  TCFD: The Task Force on Climate-related Financial Disclosure recommends disclosure of risks and opportunities related to climate change.

<Medium-to-long-term targets>

1.   Deploy net zero emissions ocean-going vessels in the 2020s

2.   Reduce GHG emissions intensity by approximately 45% by 2035 (versus 2019*)

3.   With the concerted effort throughout the Group, achieve net zero GHG emissions by 2050

* Intend to acquire certification in compliance with SBT guidance for marine transport