NYK endorses the GX League Basic Concept

April 12, 2022

NYK has endorsed the Green Transformation (GX) League Basic Concept* announced by Japan’s Ministry of Economy, Trade and Industry (METI).

The GX League is a multiindustry platform where government, academia, and finance collaborate to take on the challenge of GX (Green Transformation), to discuss the transformation of the entire economic and social system, and to take the lead in the creation of new markets in order to achieve decarbonization. The GX League Basic Concept is the platform’s basic guideline.

In September 2021, NYK set a long-term target of net-zero emissions of greenhouse gas (GHG) by 2050 for the NYK Group’s oceangoing businesses. In addition, with the cooperation of our customers and stakeholders, NYK is actively engaged in various fuel-saving and GHG reduction activities, the promotion of LNG as a marine fuel, and research and demonstration projects for the practical use of zero-emission fuels such as hydrogen and ammonia.

NYK has decided to endorse the GX League Basic Concept because we believe that the direction of our efforts is consistent with its objectives. We will contribute to the decarbonization of Japan and the world by actively participating in discussions and demonstrations toward the realization of the GX League Basic Concept.

The GX, GX League, and GX League Basic Concept are outlined below (excerpted from METI website).

GX (Green transformation)	To view the response to the realization of global decarbonization as an opportunity for growth, and to take up the challenge of moving quickly to decarbonization and transforming the entire economic and social system.
GX League	A platform to invite companies that are actively involved in GX to join government, academia, and finance to take up the challenge of GX, discuss how to transform the entire economic and social system, and take the lead in the creation of new markets. Will begin around April 2023.
GX League Basic Concept	Basic guideline on what kind of worldview the GX League should aim for, with what kind of companies, what kind of initiatives, and on what kind of schedule, in order to discuss the detailed design of the GX League and demonstrate its initiatives in FY2022.

On February 3, 2021, NYK released the “NYK Group ESG Story,” which aims to further integrate ESG into the company’s management strategy and promotes activities that contribute to the achievement of the SDGs through business activities. On March 24, 2022, NYK released the updated “NYK Group ESG Story 2022,” which introduces initiatives for integrating ESG into the Group’s management strategies set forth in the “NYK Group ESG Story” and provides a partial explanation of the Group’s sustainable growth strategy from a long-term perspective. NYK will continue to accelerate efforts toward decarbonization with our diverse stakeholders and contribute to the realization of a sustainable society.