MOL to Participate in 'J Blue Credit' Carbon Offset for Supporting Restoration

Source: www.gulfoilandgas.com 3/18/2022, Location: Asia

Mitsui O.S.K. Lines, Ltd. (MOL) announced that it will participate in the carbon offset (Note 1) by using "J Blue Credit" (Note 2), which utilizes the blue carbon (Note 3), issued by Japan Blue Economy Association (JBE) (Note 4), an association approved by Ministry of Land, Infrastructure, Transport and Tourism.

The "J Blue Credit" targets blue carbon, which is carbon dioxide (CO2) absorbed by marine and coastal ecosystems such as seagrass meadow, and is attracting attention as a new credit aimed at accelerating steps to mitigate climate change.

The project began on a trial basis in fiscal year 2020, and in its second year, FY2021, credits were issued through restoration activities of seagrass meadow and tidal flats in Yokohama City, at the Port of Tokuyama Kudamatsu in Shunan City, and Hyogo Canal. Today, a ceremony for issuance of certificates was held for sellers and purchasers.

MOL will contribute to enhancing the implementation and sustainability of initiatives to restore and protect seagrass meadow in each area through purchase of credits for about 11 tons, among the total about 65 tons of credits issued. Blue carbon ecosystems such as seagrass meadow not only fix and absorb carbon, but also provide diverse benefits including food supply, water purification, and species conservation, supporting people's lives.


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