BAKU, Azerbaijan, January 9. Japan’s ITOCHU
Corp said it has signed a strategic partnership memorandum with
shipping company Mitsui O.S.K. Lines (MOL) to promote the use of
environmental attribute certificates as a tool to cut carbon
emissions in the transportation sector, Trend reports via
ITOCU.
Under the agreement, the two companies will jointly work on
marketing, public relations and sales initiatives aimed at
encouraging companies that use transport services to reduce their
Scope 3 greenhouse gas emissions, ITOCHU said in a statement.
The partnership brings together the aviation and maritime
sectors, creating what the companies described as a new
cross-industry model for decarbonisation in Japan, at a time when
cutting Scope 3 emissions – those generated across supply chains –
has become an increasingly urgent challenge for companies
globally.
ITOCHU has been promoting the use of sustainable aviation fuel
(SAF), while MOL has focused on expanding low-carbon marine fuels.
By combining their efforts, the companies aim to establish a
framework that helps logistics users lower emissions across the
entire transportation supply chain.
As part of the initiative, the two companies carried out a
reciprocal transaction of environmental attribute certificates.
ITOCHU purchased certificates generated by MOL to offset emissions
linked to marine transport services, while MOL bought
aviation-related certificates generated by ITOCHU to reduce
emissions from employee air travel.
The transaction was conducted via a platform operated by
123Carbon, a Netherlands-based environmental technology company,
which manages the issuance, transfer and retirement of certificates
under an audited system designed to ensure traceability and
transparency in line with global standards.
ITOCHU said the initiative aligns with its management policy
focused on shifting profit opportunities downstream and advancing
contributions to the United Nations Sustainable Development
Goals.
