MOL Advances Climate Leadership with First-Ever Retirement of Tech-Based CDR Credits in Japan

Mitsui O.S.K. Lines, Ltd. (MOL) has become the first Japanese shipping company to retire technology-based carbon dioxide removal (CDR) credits—marking a significant step in global efforts to scale permanent carbon removal as part of climate action.

The company has officially retired 2,000 tonnes of durable CDR credits sourced from a biochar project operated by Exomad Green in Bolivia. The credits were acquired through the NextGen CDR Facility, a global platform co-founded in 2022 by leading climate actors to drive large-scale deployment of high-integrity carbon removal technologies.

Rather than using these credits for direct emissions compensation, MOL’s action is part of a broader “beyond value chain mitigation” strategy—designed to contribute to the growth of the global CDR market and accelerate collective climate solutions.

“This step reflects our long-term vision,” said MOL President & CEO Takeshi Hashimoto. “Supporting durable carbon removal is essential to reaching net zero, and we’re proud to contribute early to this critical frontier.”

The move aligns with MOL’s Environmental Vision 2.2, which outlines a roadmap to eliminate greenhouse gas emissions from its operations and value chain by 2050. As part of this plan, MOL aims to help remove 2.2 million tonnes of CO₂ from the atmosphere by 2030 through support of high-impact environmental projects and innovations.

The Exomad Green project converts sustainably sourced forestry residues into biochar—a stable form of carbon stored for centuries in soil. This approach delivers not only permanent CO₂ removal, but also local benefits in soil health and air quality.

By backing cutting-edge solutions like biochar through platforms such as NextGen, MOL is helping unlock the investment and scale required to make CDR a mainstream climate tool.

About MOL Mitsui O.S.K. Lines is a global leader in shipping and logistics, committed to building a sustainable future through innovation and environmental responsibility. The company’s climate roadmap emphasizes clean energy transitions, emissions reduction, and meaningful partnerships to drive impact across the maritime industry.

About Exomad Green Exomad Green is a climate technology company based in Bolivia, transforming sustainable forestry waste into biochar for durable carbon removal and soil restoration. With projects verified on global carbon standards, Exomad Green is scaling nature-based CDR in Latin America.

About NextGen NextGen is a global coalition advancing large-scale, high-quality carbon removal through forward credit purchases and project partnerships. It supports both technological and nature-based approaches to help meet global net-zero goals.