MOL establishes the "MOL Charitable Trust" in Mauritius
Providing support to local environment and communities in Mauritius
June 21, 2021
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) has established the "MOL Charitable Trust" (the Trust) in the Republic of Mauritius as part of its benevolent and philanthropic actions to support activities for the public benefits of Mauritius and its people to address the impacts of the oil spill from a bulk carrier the MV Wakashio that had been chartered from a subsidiary of Nagashiki Shipping Co., Ltd (shipowner).
In cooperation with the shipowner and relevant authorities, MOL has been working to restore the natural environment of Mauritius and contribute to local communities, with the assistance of experts and organizations specialised in the restoration and protection of the environment (Note 1). The newly established Trust is part of a total of 800 million yen fund announced in September 2020 by MOL.
The Trust is being established with a fund of approximately 300 million yen settled by MOL as settlor ahead of the MOL Japanese Foundation, currently under preparation. The Trust will be locally based and managed to ensure quick support when required. In addition, the Trust will incorporate not only projects related to the restoration of the natural environment, but also provide support to local communities in line with the United Nations Sustainable Development Goals (SDGs) and the Mauritian Government's National Priority Areas.
The Trust will contribute to strengthen the presence of Mauritius in the Indian Ocean Rim and foster relationships between the People of Mauritius and Japan. In addition, through the Japanese Foundation which is to be established in the near future, MOL will conduct further support activities on a dual basis with the Trust.
The MOL Charitable Trust is managed by a Committee of Enforcers. This committee includes eminent persons in Mauritius, in order to provide far reaching and fair support in line with the purpose of the Trust.
Funding of the Japanese Foundation will originate from MOL and will also be open to receiving donations from other corporations and individuals.
MOL is committed to provide support to local environment and communities in Mauritius.
"MOL Charitable Trust" Overview
|Name of Trust||MOL Charitable Trust (Note 2)|
|Purpose of Trust||
|Founding Country||Republic of Mauritius|
|Settlor||Mitsui O.S.K. Lines, Ltd.|
|Contributions||Approximately 300 million yen over 5 to 6 years|
|Trustee||ITL Trustees Ltd.|
|Bankers||Mauritius Commercial Bank Ltd.|
|Members of Committee of Enforcers||
3 Enforcers from Mauritius
4 Enforcers from Mitsui O.S.K. Lines, Ltd.
(Note 1) For more information, please refer to https://www.mol.co.jp/en/sustainability/incident/index.html
(Note 2) Please see below for the details.