Feb. 05, 2025
NYK Concludes Purchase Agreement for J-Credits Resulting from Forest Management in Hokkaido and Akita
Will purchase credits annually from Mitsui & Co. for the next five years
NYK has concluded a purchase agreement with Mitsui & Co., Ltd. (“Mitsui”) for J-Credits* generated from carbon dioxide removal (CDR)** resulting from forest management in Hokkaido and Akita prefectures.
For five years from 2025, NYK will annually purchase these credits. They will be generated through two projects: (1) Northern Kamikawa and Western Abashiri Management Area Hokkaido Forest J-Credit (Kikita Green Credit) Project, a joint project between Mitsui and Hokkaido, and (2) Akita Prefectural Forestry Public Interest Incorporated Foundation Forest Management Project, a joint project between Mitsui and the Akita Prefectural Forestry Public Interest Incorporated Foundation.
These credits are created efficiently and stably using digital technology operated by Mitsui using aircraft and satellites to survey and monitor forest management and carbon dioxide absorption.
NYK has concluded comprehensive Partnership agreements with Hokkaido and Akita prefectures, and we aim to promote decarbonization projects and regional revitalization. NYK decided to purchase the credits because they will contribute to forest conservation and decarbonization in the region, creating employment and contributing to economic development.
On January 27, NYK released a position paper on CDR in which the company indicated that it would purchase credits generated from CDR, an approach to achieve net-zero greenhouse gas emissions by 2050 by offsetting residual greenhouse gas emissions that cannot be avoided through efforts to reduce emissions.
The NYK Group will continue to work toward achieving net-zero emissions by 2050 in accordance with the “NYK Group Decarbonization Story.”
Position Paper
Related Releases
On March 10, 2023, the NYK Group released its medium-term management plan “Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing.” The NYK Group is promoting growth strategies with ESG at the core, based on the Group’s basic philosophy of “Bringing value to life” and a new corporate vision for 2030, which reads, “we go beyond the scope of a comprehensive global logistics enterprise to co-create value required for the future by advancing our core business and growing new ones.”
* A certificate that certifies the amount of carbon dioxide emissions reduced through the introduction of energy-saving equipment and the use of renewable energy, and the amount of carbon dioxide absorbed through proper forest management.
** Techniques and methods for removing CO2 from the atmosphere
The news on this website is as of the date announced and may change without notice.