The Group, which promotes ESG management, created the Green Business Group in April 2019 to create new value for the next generation under the theme of renewable energy.
We are strengthening various initiatives, including next-generation fuels such as hydrogen and ammonia, the offshore wind power generation business, the LNG fuel supply business, CO2 transportation, and carbon credits.
In April 2022, NYK launched its new "NYK GREEN EARTH" brand to consolidate its efforts to generate new value for low-carbon and decarbonization through green business. Through activities aimed at realizing a decarbonized society, we aim to build a new energy value chain while ensuring the sustainable development and growth of the company and society.
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To achieve decarbonization not only of shipping but also of society as a whole, we are actively involved in renewable energy projects across the entire energy value chain. Here we would like to introduce some of the specific projects we are involved in.
Startup accelerator program to promote decarbonization: Startupbootcamp
In June 2021, we started a startup accelerator program in collaboration with Mitsubishi Corporation to find and support startups with ideas and technologies for realizing a low-carbon and carbon-free society.
Teaming up with Startupbootcamp Australia, we evaluated applicants from all over the world under the theme of decarbonization and completed one cycle of the acceleration program with 10 selected startups for their business development.
Through such a program, we seek to discover promising startups and contribute to the realization of a sustainable society while also considering future collaboration with them.
Investing in Australian carbon credit sales company
We have invested in Australian Integrated Carbon (AIC), an Australian company that sells carbon credits obtained through primeval forest restoration projects, through Japan Integrated Carbon (JIC), a holding company established jointly with Mitsubishi Corporation.
Through this investment, we seek to gain ESG management expertise by acquiring experience and know-how in the carbon credit creation business to support net-zero GHG emissions from ships worldwide.
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Participation in liquefied CO2 transportation and storage business
We established a joint venture company, Knutsen NYK Carbon Carriers AS (KNCC), with the Knutsen Group of Norway in December 2021, aiming for the commercial development of a liquefied CO2 marine transportation and storage business worldwide using the Knutsen-developed technology LCO2-EP®, which allows transport of liquified CO2 at ambient temperatures. This company will also build and operate low/mid pressure vessels based on other technologies. The establishment of this joint venture will be an important foothold for participation in the CCUS value chain.
Developing large LCO2 carrier jointly with Mitsubishi Shipbuilding Corp.
Together with Mitsubishi Shipbuilding Corporation, we have begun the development of technology for transporting CO2 by large vessels, which are expected to be in growing demand globally in a carbon-neutral society. Through this joint project, we will contribute to developing various technologies, such as liquefied CO2 carriers (LCO2 carriers), which are necessary for establishing the CCUS value chain that we will participate in.