MOL, TMAM, and Idemitsu Kosan launch Blue Carbon Initiative aimed at advancing decarbonization through Seagrass Bed Restoration
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced a cooperative effort with Tokio Marine Asset Management Co., Ltd. (TMAM; CEO: Kazuya Nagasawa) and Idemitsu Kosan Co., Ltd. (Representative Director and President: Noriaki Sakai), to launch a joint initiative to explore and advance the potential of blue carbon(Note 1) through activities such as seagrass bed restoration in regions across Japan. This project aims to support the expansion of blue carbon, which is expected to play a key role as a carbon sink in achieving net-zero emissions, while contributing to regional revitalization and biodiversity conservation.
The three companies jointly established a study group in October 2024 with some other companies to promote nature-based decarbonization centered on blue carbon and enhance its economic value. Since then, they have collaborated with other corporates, government agencies, and solution providers to discuss challenges and policy proposals for the societal implementation of blue carbon. The group will now transition to concrete demonstration projects to address the challenges identified through the study group and to verify the proposed measures for enhancing economic value.
[ Aims of this initiative ]
- Launch of Demonstration Project and Knowledge Acquisition
TMAM, along with Idemitsu Kosan and MOL, will participate in a seagrass bed restoration project in Shimane Prefecture and other coastal areas. Through on-site activities, we aim to gain practical know-how and insights related to seagrass restoration. - Creating Value Through Regional Collaboration
To promote blue carbon activities in coastal areas, the three companies will collaborate with local fishermen, municipalities, educational institutions, and other stakeholders. They will advance regional revitalization efforts through seagrass bed restoration and explore the potential to create value beyond economic benefits, such as biodiversity conservation and environmental education. - Scaling Up to Large-Scale Projects
Based on the framework of the blue carbon credit system now under consideration, the companies will leverage the expertise gained through this coastal demonstration project to explore the development and feasibility of future large-scale projects.
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