Shipping giant Mitsui OSK Lines (MOL) has partnered with Climeworks to remove 13,400 metric tons of CO2 from the atmosphere by 2030, marking the first collaboration between Climeworks and a company in the maritime sector. In addition to the carbon removal agreement, the two companies have signed a Memorandum of Understanding (MoU) to explore potential investments in Climeworks’ future Direct Air Capture (DAC) plants, as the carbon removal pioneer aims to scale up towards million-ton capacity by the 2030s. This partnership is part of MOL’s broader climate strategy, which includes a goal to remove 2.2 million tons of CO2 by 2030 and achieve net-zero emissions by 2050 in alignment with the International Maritime Organization’s climate objectives.
Hisashi Umemura, Senior Executive Officer of MOL, emphasized the company’s commitment to a net-zero future and praised Climeworks’ state-of-the-art Direct Air Capture technology for enabling the removal of emissions that are challenging to eliminate through conventional methods. This collaboration underscores the growing importance of durable carbon removal in sectors like shipping that are difficult to decarbonize using current solutions like electrification. The agreement also marks a significant milestone as MOL becomes Climeworks’ first Japanese customer, following Japan’s decision to include durable removals in its national emissions trading scheme by 2024.
Adrian Siegrist, Climeworks’ Chief Commercial Officer, highlighted the strategic significance of partnering with companies like MOL that recognize the urgency of the climate crisis and the opportunities presented by early action. By joining forces, MOL and Climeworks aim to drive global progress towards achieving net-zero emissions. This collaboration not only facilitates carbon removal but also offers partners preferential access to removal capacity and the chance to drive business innovation, positioning them to lead the way in advancing the sector for mutual benefit.
