ITOCHU and Mitsui O.S.K. Lines Partner on Environmental Attribute Certificates for Transport Decarbonisation

Japanese trading company ITOCHU Corporation and shipping group Mitsui O.S.K. Lines (MOL) have signed a memorandum of strategic partnership to advance the use of environmental attribute certificates as a decarbonisation tool in the transportation sector.

Under the agreement, the two companies will collaborate across air and maritime logistics to develop a framework that enables companies using transport services to reduce Scope 3 greenhouse gas emissions. The initiative is aimed at supporting decarbonisation efforts across the transportation value chain, including shippers, logistics providers, and end users.

The partnership links the air and maritime transport sectors, positioning environmental attribute certificates as a mechanism for addressing indirect emissions associated with logistics activities. As part of the collaboration, ITOCHU and MOL will work together on marketing, public relations, sales, and related activities to promote the adoption of these certificates by companies seeking to lower their Scope 3 emissions.

Both companies have already conducted reciprocal transactions as user companies. ITOCHU purchased marine environmental attribute certificates generated by MOL to reduce emissions linked to marine transport services, classified under Scope 3 Category 4. MOL, in turn, acquired air environmental attribute certificates generated by ITOCHU to address emissions associated with employee air travel, falling under Scope 3 Category 6. The transactions were executed via a digital platform operated by Dutch environmental technology company 123Carbon, which facilitates the trading of environmental attribute certificates linked to transportation activities.