Japanese Shipowner MOL Collaborates with Marubeni in Carbon Removal Credit Business

Japanese shipowner Mitsui OSK Lines (MOL) has partnered with trading house Marubeni to venture into the carbon removal credit business. The collaboration has led to the establishment of a joint venture company named Marubeni MOL Forests, dedicated to creating, purchasing, selling, and retiring nature-based carbon removal credits.

The core philosophy of the new company is to “Open the way to a sustainable future through the power of people and forests,” as stated by MOL in a recent release.

As part of its initial project, the joint venture aims to establish new forests covering 10,000 hectares in India and anticipates commencing the handling of carbon credits from 2028 onwards.

MOL’s strategic focus on expanding its non-shipping businesses aligns with its Blue Action 2035 management plan. In a significant move announced on Monday, the company disclosed a $25 million investment in a forestry fund targeting Latin America, marking its status as the first industrial company in Asia to participate in the fund.