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]
To ensure the achievement of net-zero emissions, we have set quantitative KPIs and milestones for measuring progress for each action.
We are making steady progress toward achieving each goal and milestone set forth in the "MOL Group Environmental Vision 2.2".
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).
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% |
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.