Collaboration For Sustainability: NYK And YL Launch GHG Reduction Platform

By
Mfame Editor
-
10

NYK and YL have launched a digital platform to help their customers reduce their Scope 3 GHG emissions. This platform, powered by 123Carbon, allows customers to access and utilize the emission reduction benefits achieved by NYK and YL through the use of alternative fuels in their shipping, air, and land transportation services. By allocating and issuing certificates for these reductions, the platform empowers customers to offset their carbon footprint, according to NYK.

How it Works

  1. NYK (and other shipping companies):

    • Generates GHG emission reductions by using biofuels in their bulk shipping operations.
    • Recognizes the environmental value of these reductions.
    • Allocates these reductions to YL (likely a logistics or transportation company)
    • Issues a certificate of confirmation for these allocated reductions.
    • This process will be verified by a third-party certification organization.
  2. YL (Logistics/Transportation Company):

    • Procures GHG emission reductions from shipping companies like NYK and its airline partners.
    • Generates its own GHG emission reductions by using sustainable fuels (e.g., from waste cooking oil) to power its trucks.
    • Provides customers with certificates for these procured and self-generated reductions.
    • Offers a one-stop service on a platform to manage these reductions.

Key Features of the Platform

  • Transparency: Customers can track the methods used to generate GHG emission reductions and the specific alternative fuels employed.
  • Security: Blockchain technology ensures the integrity of data related to the management and allocation of reductions, preventing tampering.
  • Reliability: Third-party verification of the entire process enhances the platform’s credibility and trustworthiness.

Benefits

  • Environmental Impact: Reduces overall GHG emissions across the supply chain.
  • Customer Value: Provides customers with verifiable and transparent information about their environmental impact.
  • Competitive Advantage: Enables companies to differentiate themselves by offering more sustainable transportation options.
  • Innovation: Fosters the development and adoption of sustainable fuels and technologies.

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Source: NYK