Mitsui & Co. joins Maersk Mc-Kinney Moller Center for Zero Carbon Shipping
On 23 April 2021, Japan’s Mitsui & Co., Ltd. became a strategic partner of the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping (MMMCZCS), a not-for-profit international research and development center dedicated to the decarbonization of the shipping industry.
For the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping, Mitsui will plan and operate projects and also provide its knowledge throughout the entire supply chain, the company said.
One of the priority areas identified by Mitsui in its Medium-term Management Plan 2023 is “Sustainability Management; Evolution of ESG”, while the company’s vision for 2050 calls for the achievement of net-zero emissions.
Mitsui intends to strengthen ties with the other partners participating in the MMMCZCS and contribute to the achievement of an eco-friendly society through the promotion of the decarbonization of the shipping industry as an essential infrastructure for a prosperous society.
The reduction of greenhouse gas (GHG) emissions is an important priority for the shipping industry, and the International Maritime Organization (IMO) has set a target of halving GHG emissions relative to the 2008 level by 2050.
Toward achieving this IMO target, the use of alternative fuels, such as hydrogen, ammonia, methanol, and biofuels, has been attracting attention. However, a number of issues will need to be overcome before these fuels can be used on a practical basis, including technological development, supply capacity, and economic viability. It will also be necessary to verify their practicality across entire supply chains.
Through collaboration with the shipping industry across the supply chain, the center will carry out R&D and develop practical solutions relating to alternative fuels and new technologies related to ship operations.