Mitsui O.S.K. Lines, Ltd. (MOL) announced the publication of its Safety, Environmental and Social Report 2017, disclosing the group’s initiatives on environment, society, and governance (ESG).
As part of its environmental responsibility, the company targets reduction of greenhouse gas emissions per unit load by 25% by 2030 and by 50 % by 2050, compared to fiscal year 2014.
Under the “MOL Group Environmental Policy Statement,” the company established the “MOL Group Environmental Vision 2030” as a group-wide environmental management policy, expressing its viewpoint on addressing environmental issues in the new management plan, in line with Paris Agreement.
Further, MOL will develop and drive the new “Environment and Emission Free Businesses” with the aim of making them core operations in the next generation. These include “Renewable Energy Business,” “Alternative Fuel Business”, “CO2 Emissions Reduction Business,” and “Environmental Value Creation Business,” which MOL sees as business opportunities.
Highlights of the past year
- In May 2017, MOL decided to build an LNG-fueled tugboat. It will be the first LNG-fueled tugboat in Japan conforming to the IGF code issued in January 2017 subject to review by Japan’s Ministry of Land, Infrastructure, Transport and Tourism. The new tugboat will be deployed in Osaka Bay in April 2019.
- MOL has reached an agreement to launch a joint study of a liquefied natural gas (LNG)-fueled Capesize bulker with five other companies- DNV GL, BHP Billiton, Rio Tinto, Woodside Energy, and Shanghai Merchant Ship Design and Research Institute. The parties signed a letter of agreement at a ceremony held in Singapore on January 20.
- The world’s first largest over 20,000 TEU-class MOL-operated containership, MOL Triumph, was launched on the Asia/North Europe routes, featuring several energy-saving technologies.
- MOL Ferry’s Sunower Furano went into service in May 2017. It offers significant improvements in fuel efficiency and environmental performance thanks to the adoption of contra-rotating propellers (CRP) and a hybrid propulsion system.
Explore more by reading the full report: