Mitsui O.S.K. Lines (MOL) will represent the shipping sector as a ‘Sector Champion’ in the First Movers Coalition (FMC) as part of its efforts to ‘lead the discussion on promoting zero-emission fuels’.
The FMC was launched by the World Economic Forum and John F. Kerry, the US Special Presidential Envoy for Climate, at COP26 held in November 2021. The Coalition focuses on seven sectors: shipping, aluminum, aviation, carbon dioxide removal, concrete, steel and trucking. From these sectors, which generally seen as ‘hard to abate’, 83 major global companies (as of August 2023) have joined FMC and MOL became the first Japanese company to join in 2022.
Shipping companies participating in the shipping sector have committed to power at least 5% of deep-sea shipping with zero-emission fuels by 2030, enabled by ships capable of using zero-emission fuels.
MOL said that, as the champion company in the shipping sector, it ‘will work with supporting governments and participating companies, leading the discussions on promoting zero-emission fuels which is crucial to achieve net-zero greenhouse gas (GHG) emissions by 2050’.
Takeshi Hashimoto, CEO of MOL, commented: ‘We are truly honoured to serve as the Sector Champion. To achieve net-zero GHG emissions by 2050, an early promotion of zero-emission fuels is essential. We believe what FMC strives towards will play a huge part in making this happen. We hope to bring insights and leadership as a full-line marine shipping company that has stably transported various goods and energy to a wide range of industries, serving a greater role in realizing FMC's goals.’
Nancy Gillis, the Programme Head of FMC, added: ‘MOL stepping up to become a Sector Champion for Shipping within the First Movers Coalition marks a pivotal moment in that sector's shift to a decarbonised future. By leading discussions on zero-emission fuels, MOL will help navigate peers towards a sustainable maritime industry. Together, we are accelerating the path to a net-zero horizon, proving that early action sparks needed and lasting change.’