Mitsui OSK Lines has joined the Shipping Sector of the First Movers Coalition during the World Economic Forum Annual Meeting which was held on 16-20 January 2023. Ocean shipping companies participating in the sector have committed to use zero-emission fuels for at least 5% of their deep-sea shipping by 2030.The FMC, in which MOL became the first Japanese company to join in May 2022, is an initiative launched by the World Economic Forum and US Special Envoy for Climate John Kerry on the occasion of COP 26 in November 2021. The FMC is a platform that large companies commit to purchase technologies and services by 2030 that are critical to achieving zero emissions, and partner governments provide policy support to create a market early and promote the development and adoption of decarbonizing technologies. It has established sectors for Shipping, Aluminum, Aviation, Carbon Dioxide Removal, Cement and Concrete, Steel, and Trucking. The total carbon dioxide emissions from these sectors account for 30% of the world's total emissions, and without rapid innovation in clean technology, the share is expected to exceed 50% by mid-century.In addition to the CDR sector in which MOL is already participating, the company has decided to participate in the Shipping Sector because it recognizes the importance of taking the necessary actions to further promote climate change action over the next decade through FMC.
Mitsui OSK Lines has joined the Shipping Sector of the First Movers Coalition during the World Economic Forum Annual Meeting which was held on 16-20 January 2023. Ocean shipping companies participating in the sector have committed to use zero-emission fuels for at least 5% of their deep-sea shipping by 2030.The FMC, in which MOL became the first Japanese company to join in May 2022, is an initiative launched by the World Economic Forum and US Special Envoy for Climate John Kerry on the occasion of COP 26 in November 2021. The FMC is a platform that large companies commit to purchase technologies and services by 2030 that are critical to achieving zero emissions, and partner governments provide policy support to create a market early and promote the development and adoption of decarbonizing technologies. It has established sectors for Shipping, Aluminum, Aviation, Carbon Dioxide Removal, Cement and Concrete, Steel, and Trucking. The total carbon dioxide emissions from these sectors account for 30% of the world's total emissions, and without rapid innovation in clean technology, the share is expected to exceed 50% by mid-century.In addition to the CDR sector in which MOL is already participating, the company has decided to participate in the Shipping Sector because it recognizes the importance of taking the necessary actions to further promote climate change action over the next decade through FMC.
