NYK has signed a new agreement with 1PointFive to purchase carbon dioxide removal credits (“CDR credits”) generated via direct air capture with carbon storage (DACCS) technology.

These credits are produced by capturing CO₂ from the atmosphere and storing it underground at 1PointFive’s DAC facility, “Stratos,” currently in commissioning in Texas (U.S.). The facility is slated to commence operations in 2025.

In the “NYK Group Decarbonization Story ” released in November 2023, NYK set the goal of achieving net-zero GHG emissions by 2050. Maximizing energy efficiency and transitioning to next-generation fuels remain our top priorities for reducing greenhouse gas (GHG) emissions. Despite these continuing efforts, some residual emissions in the shipping industry cannot be avoided. In this context, reliable CDR credits generated by DACCS offer an effective means to offset these residual emissions and support our net-zero goal.

Going forward, and in line with our official position paper ** on the use of CDR credits, NYK will continue to promote initiatives that contribute to reducing GHG emissions through various credits, working with our customers to realize a decarbonized society.
Source: Nippon Yusen Kaisha