MOL Joins GCMD to Drive Maritime Decarbonisation

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by KnowESG,

Mitsui OSK Lines

KnowESG_MOL Joins GCMD to Drive Maritime Decarbonisation
Image courtesy of MOL

The Global Centre for Maritime Decarbonisation (GCMD) and Mitsui O.S.K. Lines, Ltd. (MOL) have jointly announced the formalisation of a transformative five-year Impact Partnership.

At the GCMD office in Singapore, a signing ceremony marked the auspicious occasion.

Navigating the path of decarbonisation within the maritime sector demands a concerted and expedited effort, necessitating robust collaboration and increased investments from shipping companies, ports, energy providers, customers, and governmental bodies.

In assuming the role of an Impact Partner within GCMD's framework, MOL is poised to leverage its extensive expertise, cultivated over a long-standing history, to drive meaningful contributions and synergistic alliances within GCMD's ambitious projects.

This entails a commitment to sharing valuable resources, including vessel access, operational data, and assessment reports, to facilitate knowledge dissemination and future experimentation.

Renowned for its leadership within the global maritime landscape, MOL has consistently pioneered dialogues and initiatives that champion decarbonisation.

The principle of carbon budgeting, stipulating a finite global threshold for cumulative greenhouse gas (GHG) emissions to constrain global temperature escalation within the 1.5-degree Celsius margin by 2050, is a focal point.

MOL underscores the importance of interim emissions reduction targets in tandem with the overarching net-zero objective. The trajectory towards deploying low- or zero-emission vessels on the horizon is underscored by the urgency to implement immediate measures to curtail emissions.

This encompasses the utilisation of contemporary low-carbon and transitional fuels and the integration of energy-efficient devices aboard vessels. Through its association with GCMD and its consortium of partners, MOL aspires to infuse its expansive competencies and rich experience into the collective effort to expedite the decarbonisation of global maritime shipping.

Professor Lynn Loo, CEO of the Global Centre for Maritime Decarbonisation, expressed her elation at welcoming MOL, a distinguished shipowner in Japan, as a revered Impact Partner. The collaboration promises to fortify the Center's perspective by tapping into MOL's proficiency in crafting technical solutions for enhanced energy efficiency—an invaluable contribution to the drive towards fuel efficiency augmentation for vessels.

Toshiaki Tanaka, Representative Director, Executive Vice President Executive Officer, and Chief Operating Officer of MOL, conveyed his enthusiasm for becoming an integral partner within this pivotal global coalition. MOL pledges its utmost dedication to propelling progress towards a net-zero future within the maritime domain, a collective endeavour undertaken in close concert with GCMD and its esteemed associates.

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Source: MOL

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