MOL and KEPCO Unite to Boost Carbon Removal in Africa and Asia
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📰 The quick summary: Two major Japanese companies partner to develop carbon removal projects across multiple regions to generate carbon credits and support global decarbonization efforts.
📈 One key stat: MOL aims to cut CO2 emissions by 2.2 million tons by 2030 through carbon removal credits, marking a significant step toward large-scale emissions reduction.
💬 One key quote: “Carbon removal credits are generated when CO2 is extracted directly from the atmosphere, using both ‘nature-based solutions’ and ‘technology-based solutions.'”
1️⃣ The big picture: Japanese shipping giant MOL and power company KEPCO have signed an agreement to jointly explore carbon removal initiatives. The partnership focuses on developing carbon credit projects in Africa, Southeast Asia and other regions through CO2 removal activities. This collaboration builds on their existing joint efforts in developing liquefied CO2 carriers for carbon capture and storage. The initiative aligns with MOL’s Environmental Vision 2.2 goal of achieving net-zero greenhouse gas emissions by 2050.
2️⃣ Why is this good news: More leading companies are actively investing in carbon removal technologies and projects, helping accelerate the growth of this critical climate solution. The geographic focus on Africa and Southeast Asia brings carbon removal opportunities to regions that need economic development. The partnership combines MOL’s global logistics capabilities with KEPCO’s energy expertise to tackle emissions reduction at scale. Their collaboration can help establish new carbon removal supply chains and drive innovation in both nature-based and technology-based solutions.
3️⃣ What’s next: The companies will begin feasibility studies to identify promising carbon removal project opportunities in target regions. Technical and economic research will help determine the most viable approaches for generating high-quality carbon credits. MOL and KEPCO will also explore expanding their existing work on CO2 transportation and hydrogen carriers to support the carbon removal initiatives.
Read the full story here: Carbon Herald – Japan’s MOL, KEPCO Team Up To Explore Carbon Removal Project
