MOL And KEPCO Collaborate On Carbon Removal Credit Project

Mitsui O.S.K. Lines, Ltd. (MOL) and The Kansai Electric Power Company (KEPCO) have signed a Memorandum of Understanding (MoU) to explore collaboration on a carbon removal credit generation project.

Key Objectives

• Research Feasibility – Study the feasibility and economic viability of carbon removal credit projects in Africa, Southeast Asia, and other regions.
• Climate Change Contribution – Support net-zero emissions and a sustainable society.
• Carbon Credit Generation – Develop projects that remove CO₂ from the atmosphere and create carbon credits.

MOL & KEPCO’s Carbon Neutral Goals

• MOL’s Target – Achieve net-zero GHG emissions by 2050 and remove 2.2 million tons of CO₂ by 2030.
• KEPCO’s Zero Carbon Roadmap – Implement carbon credit businesses across generation, sales, and trading.

Scope of Collaboration

1. Propose projects for carbon removal credit generation.
2. Evaluate feasibility and economic viability.
3. Assess project developers & operators for collaboration.
4. Participate in carbon credit projects.
5. Off-take carbon removal credits for further application.

Carbon Removal Credit Methods

Nature-based Solutions – Afforestation, reforestation, soil carbon sequestration.

Technology-based Solutions –

• DACCS (Direct Air Carbon Capture & Storage) – Captures CO₂ directly from the air for underground storage.
• BECCS (Bioenergy with Carbon Capture & Storage) – Uses biomass power generation with CO₂ capture and storage.

MOL and KEPCO have previously collaborated in liquefied CO₂ and hydrogen carrier designs, reinforcing their commitment to a zero-carbon society through innovative climate initiatives.