MOL Group Environmental Vision 2.2

MOL established the "MOL Group Environmental Vision 2.2" as a new roadmap to achieve net zero greenhouse gas (GHG) emissions by 2050 and promote the sustainable development of people, society, and the Earth in April 2023.
The "MOL Group Environmental Vision 2.2" reflects steady progress from "MOL Group Environmental Vision 2.1" announced in June 2021, and is aimed at stepping up the effectiveness of its initiatives by adding and updating key performance indicators (KPIs) and milestones toward achieving its sustainability goals. The updated vision also more clearly defines the group's net-zero emissions transition plan by drawing a specific pathway to reduce GHG emissions.

MOL Group Environmental Vision 2.2[8.89MB]


Overview


KPI & Milestones

To ensure the achievement of net-zero emissions, we have set quantitative KPIs and milestones for measuring progress for each action.


Progress

We are making steady progress toward achieving each goal and milestone set forth in the "MOL Group Environmental Vision 2.2".

Progress toward medium- to long-term targets

Medium- to long-term targets FY2023 Results
In the 2020s Net zero emissions ocean-going vessels Deploy 0 vessels
2035 GHG emissions intensity ▲45%
(compared to 2019)
▲7.2%
2050 GHG emissions
All of scope 1,2,3
▲90% or more
(compared to 2019)
(*1)
▲8%

(*1) If residual emissions remain in the net zero target year(2050), we will neutralize them with Carbon Dioxide Removal(CDR).

Progress on Milestones

Division KPI Milestones FY2023 Results
Climate change measure Environmental investment FY2023-25 in total: 650 billion yen 658 billion yen(*1)
GHG emissions
Scope1,2
2030: ▲23% compared to 2019 ▲10% 
Climate change measure
- ACTION 01
No. of LNG/methanol-fueled
ocean-going vessels
2030: 90 vessels LNG: 37 vessels
Methanol: 1 vessel
No. of net zero emissions
ocean-going vessels
2035: 130 vessels 0 vessels
Ratio of zero-emission
fuel used
2030: 5% 0.4%(*2)
Ratio of power from
renewable energy for Scope 2
2030: 100% 55.8%
Climate change measure
- ACTION 02
No. of vessels equipped
with Wind Challenger
2030: 25 vessels 2 vessels(*3)
Climate change measure
- ACTION 03
Fuel efficiency
(MJ/ton-mile)
2025: ▲5% compared to 2019 ▲6.9%
Climate change measure
- ACTION 04
Amount of removal type
carbon credits used
Cumulative total by 2030:
2.2 million t-CO2
0 t-CO2
* Refer to "Initiatives related to
carbon credits"
Prevention of air pollution SOx emissions intensity
(g-SOx/ton-mile)
2030: ▲14% compared to 2019 +5.4%(*4)
Efficient utilization of
Energy & resources
Fuel efficiency
(MJ/ton-mile)
2025: ▲5% compared to 2019 ▲6.9%
  • (*1) Actual on a decision-making basis; actual investment in FY2023 is 259.5 billion yen out of this amount.
  • (*2) Including the amount of biodiesel used that meets the conditions of the IMO Provisional Guidance (International Certification Scheme, Emission Intensity Conditions) published in MEPC80 in July 2023.
  • (*3) In addition to the 2 in the table, 1 coal carrier and 6 dry bulk carriers will be newly equipped with Wind Challenger (total of 9 vessels as of July 2024).
  • (*4) Due to increase in sulfur content (average) in fuel.

Initiatives related to carbon credits

Although we have removed 0 tons of carbon at this time, we are promoting both nature-based and technology-based solutions. Specific examples are shown below.

[Nature-based solutions]
We will contribute to biodiversity and local communities in addition to decarbonization through support for projects such as forest and mangrove regeneration. Since January 2022, we have been participating in a blue carbon project aimed at restoring and conserving mangroves in South Sumatra, Indonesia. The project aims to reduce CO2 emissions by about 5 million tons through forest conservation activities and to absorb/store another 6 million tons of CO2 through afforestation of mangroves and other plants on about 9,500ha of bare land in the next three decades.

[Technology-based solutions]
By engaging with CO2 removal technology projects now, we will contribute to innovation and cost reduction of underfunded elements of nascent technologies.
As one of the founding buyers of the NextGen CDR Facility and a member of the First Movers Coalition's CDR sector, we are committed to purchasing at least 50,000 tons of CO2 removals utilizing CDR technologies by 2030.

We will give due consideration to the integrity of the CDR credits we procure by selecting credits that have been certified by third-party organizations, as well as by referring to external evaluations and individually verifying them ourselves by referring to relevant guidelines.


Previous Environmental Visions

MOL Group Environmental Vision 2.2(published in April, 2023, at the time of publication)

MOL Group Environmental Vision 2.1(published in Jun, 2021)

MOL Group Environmental Vision 2.0(published in Jun, 2020)