2025

Marubeni and MOL Establish a New Company Venture in the Nature-based Carbon Removal Credit Business to “Open the Way to a Sustainable Future Through the Power of People and Forests”

Jan. 20, 2025
Marubeni Corporation
Mitsui O.S.K. Lines, Ltd.

Marubeni Corporation (hereinafter, “Marubeni”) and Mitsui O.S.K. Lines, Ltd. (hereinafter, “MOL”) announced today that the two companies have entered into a shareholders agreement to jointly establish a new company, called Marubeni MOL Forests Co., Ltd.,*1 to create, purchase, sell, and retire*2 nature-based carbon removal credits.*3

(From left)  MOL Managing Executive Officer, Deputy Director General, Headquarters of Energy Business, Yasuchika Noma; Marubeni Executive Officer, Chief Operating Officer, Forest Products Division, Koichi Geshi (From left) MOL Managing Executive Officer, Deputy Director General, Headquarters of Energy Business, Yasuchika Noma; Marubeni Executive Officer, Chief Operating Officer, Forest Products Division, Koichi Geshi

The new company, Marubeni MOL Forests, will operate under the philosophy: “Open the way to a sustainable future through the power of people and forests.” The company aims to contribute to global environmental preservation and sustainable societal development through the creation, trading, and proxy retirement of nature-based carbon removal credits. As its first project, it plans to establish new forests covering 10,000 hectares in India, aiming to start handling carbon credits from 2028 onwards.

The acceleration of the global movement toward decarbonization in recent years, along with intensified efforts at the corporate and national level, has put the spotlight on nature-based carbon removal credits based on methods that directly remove CO2 from the atmosphere (“carbon removal credits”). The market for carbon removal credits, which utilize carbon sequestration by new afforestation and carbon capture and storage technologies such as carbon dioxide capture and storage (CCS), is expected to further expand in the future as an indispensable tool for achieving the “net zero” goal, which is difficult to achieve by emission reductions alone. In particular, nature-based carbon removal credits not only absorb CO2, but also bring co-benefits, such as biodiversity conservation, soil improvement, and water conservation functions. These approaches make it possible to simultaneously combat climate change and protect the natural environment, contributing to nature revitalization. 

Marubeni and MOL will create and supply nature-based carbon removal credits through this project to strengthen initiatives to realize a decarbonized society and contribute to global environmental conservation and the development of a sustainable society.

・    Marubeni’s initiatives toward decarbonization
Marubeni formulated its long-term vision for climate change in March 2021, and in its Mid-term Management Strategy “GC2024”, it has positioned its green strategy as one of its basic policies for enhancing corporate value. The company is focusing on renewable energy, new energy businesses such as hydrogen and ammonia, and sustainable forest management projects in Indonesia and Australia for CO2 sequestration and biodiversity conservation. Furthermore, Marubeni is also generating and trading carbon credits through GHG reduction activities and support in collaboration with businesses in Japan and overseas. Through these initiatives, Marubeni aims to contribute to decarbonization and realize a sustainable society.

・    MOL’s initiatives toward decarbonization
The MOL Group aims to become a social infrastructure company under its BLUE ACTION 2035 management plan and plans to strengthen non-shipping businesses and proactively invest in these fields. In addition, it set the goal of achieving net-zero GHG emissions for the entire MOL Group by 2050 in the “MOL Group Environmental Vision 2.2.” The high-quality nature-based carbon removal credits earned through this project will also contribute to the milestone of “contribute to the removal of a cumulative 2.2 million tons of CO2 by 2030,” as stated in the “MOL Group Environmental Vision 2.2.” 

The two companies will strive to create a bright future by harnessing the power of forests and combining their respective strengths.

*1 New Company Overview

Company Name Marubeni MOL Forests Co., Ltd.
Investment Ratio Marubeni Corporation: 60%; Mitsui O.S.K. Lines, Ltd.: 40%
Main Business Creation, sale, and proxy amortization of carbon credits for natural base removal systems, etc.

*2 “Retire” refers to the process of cancelling carbon credit rights on behalf of customers, thereby offsetting their GHG emissions.

*3 Nature-based carbon removal credits are carbon credits based on the direct removal of CO2 from the atmosphere through the use of natural ecosystems. New afforestation and reforestation fall under this category.

Marubeni Overview
Head Office 4-2, Otemachi 1-chome, Chiyoda-ku, Tokyo
Representative Masumi Kakinoki
Main Business Diversified business activities including import/export (including foreign transactions) and domestic transactions, various service operations, domestic and foreign business investment, and resource development through domestic and international networks
Website https://www.marubeni.com/en/
   
MOL Overview
Head Office 1-1 Toranomon 2-chome, Minato-ku, Tokyo
Representative Takeshi Hashimoto
Main Business Various social infrastructure businesses on a global scale, including ferries, cruises, and real estate, with a focus on ocean shipping, such as natural resources and energy transportation, and product transportation
Website https://www.mol.co.jp/en/

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