Nippon Yusen Kabushiki Kaisha (NYK Line) and Yusen Logistics Co., Ltd. (YL) have announced the launch of a pioneering digital platform designed to manage and allocate greenhouse gas (GHG) emission reductions. The platform, provided by the Netherlands-based startup 123Carbon B.V., aims to support companies in reducing Scope 3 emissions by tracking and certifying the GHG reductions achieved through the use of alternative fuels across ocean, air, and land transport services.
This collaboration between NYK, YL, and 123Carbon is a significant step towards achieving global decarbonization goals, particularly in the transportation and logistics sectors. The platform allows users to monitor emission reduction methods and the alternative fuels that help achieve these reductions, ensuring transparency and reliability through blockchain technology. This ensures data integrity and prevents tampering during the management and allocation process.
Managing and Allocating GHG-Emission Reductions
The platform will allow NYK to generate GHG reductions by utilizing biofuels in its bulk shipping operations. These reductions will be verified by third-party certification organizations and then allocated to YL, which will issue certificates confirming the reductions. For its part, Yusen Logistics will focus on procuring GHG reductions from ocean shipping services provided by NYK and its airline partners, who use sustainable aviation fuel (SAF). Additionally, YL plans to use renewable fuels like waste cooking oil in its land transport operations to create and manage further GHG-emission reductions in select regions.
The platform is designed to provide a one-stop service for customers to track and allocate their emission reductions. It is also committed to delivering a transparent, reliable system verified by third-party organizations to ensure the integrity of the reduction data.
Platform Features
- Customer Monitoring: Customers can track the emission reduction methods employed and the alternative fuels used.
- Blockchain Security: The platform employs blockchain technology to ensure the security and transparency of the emission reduction data.
- Third-Party Verification: All reductions, from calculation to allocation, are verified by independent third parties to ensure accuracy and trustworthiness.
Commitment to Decarbonization
The NYK Group is a long-time proponent of decarbonization, having set ambitious targets in its “NYK Group Decarbonization Story.” With a goal of achieving net-zero emissions by 2050, NYK is already implementing biofuels across its fleet of car carriers, bulk carriers, and crude oil tankers. Meanwhile, Yusen Logistics has set its own target of reducing GHG-emissions by 45% by 2030, with a focus on Scope 1 and 2 emissions, aligning with its decarbonization strategy for 2050.
By leveraging its global logistics expertise, the NYK Group, through this digital platform, aims to support its customers in reducing GHG emissions across their entire supply chains, including those emissions that are indirect and fall under Scope 3, such as transport and product usage.
Comments from 123Carbon
Jeroen van Heiningen, Managing Director of 123Carbon, expressed enthusiasm for the partnership, stating, “We welcome NYK and YL as new users of our advanced platform. Not only are they utilizing our registry services, but they’ve also adopted our platform, allowing them to directly involve their customers in their low-carbon initiatives. We’re excited to collaborate with them on this important journey toward decarbonization.”
A Step Toward a Decarbonized Society
As the world moves toward a decarbonized future, NYK and YL are positioning themselves at the forefront of the logistics and shipping industries’ efforts to reduce GHG emissions. Through this platform, they are making significant strides in supporting their customers’ sustainability goals and promoting a greener supply chain across multiple transport modes.
With this new initiative, NYK and Yusen Logistics continue to drive forward their commitments to decarbonization, working alongside their partners and customers to ensure a sustainable future for the logistics sector and beyond.
About Yusen Logistics
Yusen Logistics Co., Ltd. is a comprehensive logistics provider offering end-to-end solutions. The company is committed to decarbonizing its operations and supply chain, working toward achieving a net-zero future by 2050.
About 123Carbon
123Carbon is a Netherlands-based startup dedicated to decarbonizing the logistics sector through innovative solutions and platforms that enable the tracking, management, and allocation of GHG emission reductions.
About NYK Line
Established in 1885 in Japan, NYK Line, formally known as Nippon Yusen Kabushiki Kaisha, has emerged as a global leader in the maritime industry over its 135-year history. Operating a diverse fleet, including container ships, bulk carriers, and tankers, NYK serves over 800 locations worldwide, offering a comprehensive suite of shipping services.
NYK Line has earned recognition for its commitment to innovation, sustainability, and safety, navigating the complexities of global logistics with diligence and foresight. This ongoing dedication underscores NYK’s pivotal role in shaping the future of ocean transport and reaffirms its status as a cornerstone of the maritime landscape.
Source NYK Group