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MOL Receives Special Award at 5th ESG Finance Award Japan Sponsored by Japan's Ministry of the Environment
February 20, 2024
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it received a special award in the Environmentally Sustainable Companies category (Note) in the fifth "ESG Finance Award Japan" sponsored by Japan's Ministry of the Environment.
The ESG Finance Award Japan, established by Japan's Ministry of the Environment in 2019, recognizes institutional investors, financial institutions, intermediaries, and companies that have made an impact through their proactive efforts in environmentally sustainable management and ESG finance. The award program is intended to promote and expand the use of environmentally sustainable management and ESG finance by sharing the details of the award winners' initiatives with society at large.
The Environmentally Sustainable Companies category recognizes companies that incorporate "significant environment-related opportunities and risks" into their management strategies to create positive environmental benefits while increasing corporate value. The "Special Award" goes to companies that have made particularly outstanding efforts. Gold (Company 6), Silver (Company 12), Bronze (Company 14), and Special (Company 6) awards were presented this year. This is the first time that a shipping company has received the ESG Finance Award Japan.
[Rationale for presenting the "Special Award" in the Environmentally Sustainable Companies category]
The initiatives on the "Wind Challenger," which converts wind energy directly into propulsion for vessels, has a wide range of applications, including installation on clean energy carriers, and is expected to contribute to the reduction of Scope 3 emissions in diverse industries, in terms of impact on the industry and stakeholders. The outlook for wind power use is presented in the roadmap and investment plan, and the establishment of KPIs was also highly evaluated. We look forward to further development of the company's unique and distinctive initiatives in the future. (An excerpt from the judges' comments by the secretariat of the ESG Finance Award judging panel)
The MOL Group has identified five sustainability issues (materiality) as social issues that should be prioritized through its business activities, and pursues initiatives to address environmental and other issues based on the "MOL Sustainability Plan." It has positioned environmental strategy as a key element of its management plan "BLUE ACTION 2035." Furthermore, the group has updated from the previous "MOL Group Environmental Vision 2.1" to the "MOL Group Environmental Vision 2.2," and announced it with the development of interim milestones and specific emission reduction pathways. The group understands that these initiatives were highly regarded and led to this award.
Under the MOL Group Corporate Mission of "Supporting people's daily lives and opening up a prosperous future from the blue oceans," the group aims to be a resilient and flexible corporate group that grows globally, delivering new value to all stakeholders by enhancing not only its economic value but also its social value.
(Note) For more information about the ESG Finance Award (in the Environmentally Sustainable Companies category), please see below.
Press Release | Ministry of the Environment, Government of Japan
- For more information on the Group's "Sustainability Management," please refer to the following website.
Sustainability | Mitsui O.S.K. Lines (mol.co.jp/en)
MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision. We anticipate this initiative to contribute especially to the realization of "Environment -Conservation for Marine and global environment-".
