Japanese shipping company Mitsui O.S.K. Lines (MOL) has acquired 2,000 tonnes of technology-based carbon dioxide removal (CDR) credits through its participation in the NextGen CDR Facility, a consortium launched in 2022 to support the development of scalable and verifiable carbon removal technologies.
The credits were sourced from a biochar project in Bolivia operated by Exomad Green. MOL is the first Japanese shipping company to retire such credits, which are designed to store carbon for extended periods and are considered a component of Beyond Value Chain Mitigation (BVCM) strategies.
Technology-based CDR credits are gaining attention for their potential in long-term climate mitigation, although they remain in early stages of commercial development, with limited participation globally due to cost and technological constraints.
MOL’s move forms part of a broader strategy outlined in its “Environmental Vision 2.2,” which includes a goal to contribute to the removal of 2.2 million tonnes of CO₂ by 2030. The company aims to achieve net zero greenhouse gas emissions by 2050. While these credits do not offset emissions from MOL’s own operations, they are intended to support broader societal decarbonisation efforts and contribute to the growth of the carbon removals market.
