MOL To Enhance Initiatives On Global Warming

Mitsui O.S.K. Lines, Ltd. (MOL) announced its support for three initiatives to address the issue of global warming.

The MOL Group established the “MOL Group Environmental Vision 2030″(Note 1) as the group’s environmental management policy under the “MOL Group Environmental Policy Statement”(Note 2), aiming to contribute to global environmental conservation by developing environmental and emission-free businesses as its next-generation core activities.

The MOL Group is committed to addressing environmental issues and continues to participate in such initiatives in a proactive manner as part of its role in coping with global climate issues.

Representation Image – Credits: mol.co.jp

1. Task Force on Climate-Related Financial Disclosures (TCFD)

TCFD is a task force established by Financial Stability Board (FSB)(Note 3), and its recommendations encourage companies to disclose information on climate change-related impacts and risks facing businesses and share it among institutional investors and financial institutions.

As of 20th November, 547 corporations have pledged to participate in TCFD.

Backed by a Ministry of Environment subsidy, MOL is preparing a scenario analysis(note 4) based on TCFD recommendations.

2. Japan Climate Initiative (JCI)

JCI, which was inaugurated under the Paris Agreement, is a network of companies, municipalities, and NGOs taking a proactive stance in addressing climate changes. Through JCI, MOL will work closely with other participating companies and organizations to develop solutions to environmental issues.

3. COOL CHOICE

COOL CHOICE is Japan’s national movement to encourage low-carbon products, services, and lifestyles to achieve the goal of reducing the nation’s greenhouse gas (GHGs) emissions.

MOL has worked to reduce GHG emissions by developing ship technologies including its “Senpaku ISHIN NEXT” project and improving vessel operational efficiency. Through their participation in COOL CHOICE, all MOL members are united in striving toward a low-carbon society through workstyle reforms even in the offices such as turning off unnecessary lights and using less paper.

Based on this national movement, in the last week of November, MOL also plans to implement various initiatives in its offices as part of the COOL CHOICE challenge week.

Reference: mol.co.jp

Source: Maritime Shipping News