Japanese shipping major Nippon Yusen Kabushiki Kaisha (NYK) has set a long-term target to achieve net-zero emissions of greenhouse gas (GHG) by 2050 for the group’s oceangoing businesses.
The company has been making efforts to reduce GHG emissions from ships, as well as achieve zero emissions, but in recent years the worldwide demand for decarbonization has accelerated further in the oceangoing shipping industry.
In line with this worldwide demand, the group said it has made a decision to establish this net-zero target so that the group can continue to be essential to society and industry.
The NYK Group’s entire roadmap for GHG reduction, which includes non-oceangoing businesses, will be announced in the coming period, the company said.
In February, NYK released the NYK Group ESG Story which promotes activities that contribute to the achievement of the Sustainable Development Goals (SDGs) through business activities.
This net-zero emissions target has been described as “a clear determination by the NYK Group ” for its oceangoing business to achieve net-zero emissions by 2050.
In the future, the NYK Group aims to encourage new value creation as a sustainable solution provider by deepening cooperation not only within the group but also with stakeholders and accelerating initiatives for decarbonization in the oceangoing shipping industry.
A good example of such collaborations is NYK’s recently signed memorandum of understanding (MOU) with British oil and gas company BP. In mid-September 2021, the duo announced it would collaborate on future fuels and transportation solutions to help industrial sectors, including shipping, decarbonise.