NIPPON YUSEN Kabushiki Kaisha (NYK Line) has announced it will implement carbon dioxide removal (CDR) technology as part of its plan to reduce Scope 1 greenhouse gas emissions.
On 27 January, the NYK Group issued a paper positioning CDR as in line with NYK’s decarbonisation strategy released in November 2023.
The group affirmed that it prioritises GHG reduction by maximising energy efficiency and switching to next-generation fuels, and says for residual emissions that cannot be avoided through efforts to reduce emissions, CDR will be utilized as a means equivalent to Scope 1 emissions reduction to achieve net zero by 2050.
“Since CDR technology and rules are still in their infancy, global regulations and frameworks are essential to promote its use,” the position paper states.
“Time will be needed to secure a supply of CDR credits equivalent to the residual emissions of hard-to-abate industries, such as aviation and shipping.
Scope 1 emissions refers to a GHG-emission category regarding the direct emissions of a company or organisation, such as CO2 and other GHGs generated by the combustion of fossil fuels through fuel combustion emissions.
NYK says it will begin CDR credit procurement in fiscal 2025, with the aim of retiring 100,000 tons by 2030.
