Maritime transport company Mitsui O.S.K. Lines has announced that it took part in the First Movers Coalition (FMC) on May 25, 2022, at the World Economic Forum Davos Agenda.
First launched at COP26 in November 2021 – with the cooperation of the World Economic Forum and the special presidential envoy for climate, the Hon. John F. Kerry – the initiative aims to swiftly create markets and develop and promote decarbonization technology. It is backed by major companies pledging to purchase important technologies and services by 2030 to achieve zero emissions.
MOL was the first Japanese company to take part in FMC, a platform that aims to help international governments and companies to cooperate on the development and launch of technologies necessary to achieve net zero emissions by 2050.
MOL’s president and CEO, Takeshi Hashimoto, was invited to serve as a panelist at a session organized by the Global Maritime Forum and Yara International, called Accelerating Shipping Decarbonization and the Global Transition, on May 23, 2022. This was the only session at the Davos meeting that was based solely on the topic of decarbonizing ocean shipping operations.
With the ocean shipping industry playing a vital role in the world economy, participants discussed how the sector promotes decarbonization by using the synergetic effects of overall value chains by deepening cooperation with cargo owners. Hashimoto also reiterated MOL’s commitment to proactively adopt clean alternative fuels to decarbonize ocean shipping.
Having established the MOL Group Environmental Vision 2.1 in June 2021, the company has outlined its commitment to adopting clean alternative fuels, promoting the wider adaptation of negative emissions and achieving net zero GHG emissions.