Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it has become the first Japanese company to join the board of the Book and Claim Community (BCC) (Note 1) an environmental initiative engaged in decarbonizing international logistics.
The BCC will pursue the development of the Book and Claim (Note 2) methodology for decarbonizing logistics and strengthen information sharing and collaboration among organizations and companies around the world working toward decarbonization. MOL's highly regarded past activities as a first mover towards decarbonization in the shipping industry and its "Carbon Inset" (Note 3) initiative, which allocates GHG emission reductions as tokens, led to its participation in the BCC.
New board members MOL, Meta, NORDEN, and UPS join founding board members Amazon, Deloitte, DHL Group, Microsoft, Shell, and World Energy, bringing additional experience and energy into this existing group of leaders. (Note 4)
In collaboration with other board members, MOL will contribute to decarbonizing international logistics, while leveraging its Book and Claim expertise in the shipping industry.
The MOL Group identifies "Sustainability Issues" (Materiality) as key issues for sustainable growth with society through the realization of the Group Vision, and pursues initiatives to resolve environmental and other issues, based on the "MOL Sustainability Plan."
Under the MOL Group Corporate Mission "From the blue oceans, we sustain people's lives and ensure a prosperous future," the group will continue accelerating these initiatives to become a strong and resilient corporate group that provides new value to all stakeholders and grows globally.
(Note 1) An environmental initiative to decarbonize international logistics, jointly launched in 2023 by international non-profit organizations engaged in reducing greenhouse gas (GHG) emissions, the Dutch Smart Freight Centre, and the RMI a U.S. NPO.
Smart Freight Centre
A Dutch non-profit organization that engages in activities to reduce GHG emissions generated by logistics, with the target of reducing GHG emissions related to logistics by 1 billion tons by 2030 and achieving zero GHG emissions by 2050.
RMI
A U.S. non-profit organization that promotes the transformation of the global energy system through market-driven solutions to ensure a clean, prosperous, zero-carbon future for all, in alignment with a 1.5°C future.
(Note 2) A method of booking the reduction value of a vessel with decarbonized fuel in the system and having the reduction value transferred and claimed by other vessels, customers, etc. in the system.
(Note 3) Please refer to the February 15, 2024, press release: "MOL Partners with Climate Tech Firm, 123Carbon to Complete Insetting Pilot - Supporting customers' Scope 3 reduction targets"
(Note 4) For further information, please check the BCC's announcement.
