Itochu & MOL Advance Low-Carbon Marine Fuels | Mariner News
Itochu Corporation and Mitsui O.S.K. Lines (MOL) have forged a significant alliance aimed at accelerating the adoption of low-carbon marine fuels across the global shipping industry. This strategic partnership leverages environmental attribute certificates (EACs) as a crucial mechanism to help companies reduce their Scope 3 emissions. The collaboration underscores a growing commitment within the maritime sector to advance decarbonization efforts and embrace more sustainable shipping practices. This initiative marks a pivotal step towards greener logistics and a lower carbon footprint for transportation services worldwide.
Driving Maritime Decarbonization with Certificates
The Japanese firms will focus on marketing, sales, and public outreach to encourage transport service users to apply EACs. These certificates represent verified emissions reductions from lower-carbon transport services, enabling businesses to credibly support their Scope 3 reporting and sustainability goals. By linking the maritime and aviation sectors, Itochu and MOL are pioneering a novel approach to decarbonization, showcasing an integrated strategy that aims to deliver tangible environmental benefits across diverse supply chains.
Promoting Global Adoption of Green Marine Fuels
As part of this innovative framework, Itochu has already procured EACs generated by MOL to offset greenhouse gas emissions from marine transport, with transactions facilitated by the 123Carbon platform. Both companies emphasize that this partnership extends beyond individual transactions; it’s designed to foster the broader acceptance and utilization of low-carbon marine fuels. This collective effort promises to propel the entire logistics sector towards a more environmentally responsible future, benefiting global trade and climate objectives.
