Mitsui O.S.K. Lines, Ltd. (MOL), represented by Chief Sustainability Officer (CSuO) Tatsuro Watanabe, is actively participating in COP29, highlighting the company’s commitment to decarbonizing the shipping industry and supporting global climate efforts. Here are key updates from MOL’s involvement at COP29:
Key Sessions and Discussions
- Making Clean Industrial Projects Bankable
- Date: November 14
- Hosted by: Industrial Transition Accelerator and Breakthrough Agenda
- Highlights: Watanabe emphasized the necessity of demand-stimulation policies to make clean industrial projects viable and discussed policies that would promote clean fuel investments in shipping.
- Accelerating E-Fuels and Decarbonizing Hard-to-Abate Sectors
- Date: November 15
- Hosted by: Green Power Denmark
- Highlights: Watanabe explained MOL’s actions toward adopting International Maritime Organization (IMO) regulations and expanding the use of E-fuels to reduce emissions in difficult-to-decarbonize sectors.
- Unlocking Net-Zero: Carbon Dioxide Removals (CDR)
- Date: November 15
- Hosted by: NextGen
- Highlights: Watanabe discussed the importance of Carbon Dioxide Removal for achieving net-zero emissions in shipping, especially from MOL’s perspective as a Japanese shipping leader.
Other COP29 Engagements
- TIME 100 Impact Dinner
Watanabe spoke on global warming countermeasures, stressing the role of partnerships across industries to decarbonize shipping effectively. - Endorsement of the Alliance of CEO Climate Leaders Open Letter
MOL’s President & CEO Takeshi Hashimoto endorsed this World Economic Forum-led open letter, urging governments to set ambitious Nationally Determined Contributions (NDCs), expand climate financing, and eliminate fossil fuel subsidies. - Call to Action for Green Hydrogen and Green Shipping
MOL joined over 50 leaders in a call to accelerate the transition to zero-emission fuels. This action, led by RMI and other global organizations, seeks to drive significant investments in green hydrogen and sustainable fuel technologies for shipping.
MOL’s Sustainability Vision
MOL identifies five sustainability issues, focusing on:
- Environmental conservation to protect marine and global ecosystems.
- Technological innovation to advance marine technology and promote sustainable industry practices.
MOL’s presence at COP29 underscores its dedication to collaborative climate action, decarbonizing logistics, and setting industry standards in sustainable shipping.
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Source: MOL
