Nippon Yusen announced on September 18 that it had signed an agreement to purchase CO2 removal credits (Carbon Dioxide Removal credits) from the U.S. company 1PointFive.
<Purchased CO2 removal credits from 1PointFive>
1PointFive is a company that deals in carbon capture, utilization, and sequestration (CCUS). Through the deployment of decarbonization solutions, including Direct Air Capture technology and AIR TO FUELS solutions, which directly capture and store atmospheric CO2 owned by Canadian company Carbon Engineering, as well as underground storage hubs, the company aims to limit the rise in global temperature to 1.5°C by 2050.
The CO2 removal credits to be purchased under this contract will be created by capturing atmospheric CO2 and storing it underground at "STRATOS," a facility that 1PointFive plans to operate in Texas, USA, by 2025.
By allocating this to greenhouse gas emissions that cannot be avoided despite reduction efforts (residual emissions), it contributes to achieving net-zero CO2 emissions.
Nippon Yusen has set a goal of achieving net-zero greenhouse gas emissions by 2050. The company is working to reduce greenhouse gas emissions through maximizing energy efficiency and transitioning to next-generation fuels, and will continue to promote initiatives that contribute to reducing greenhouse gas emissions, such as utilizing CDR credits for residual emissions.
