NYK has entered into a significant three-year agreement with Climeworks, a Swiss technology leader, to acquire a range of carbon dioxide removal credits (CDR credits). This partnership will commence in fiscal year 2026 and marks NYK as the first Japanese company to engage in a portfolio-style purchase of CDR credits from Climeworks.
The NYK Group is devoted to reducing greenhouse gas (GHG) emissions, including CO2, as part of its commitment to achieve net-zero emissions. This goal is pursued by enhancing energy efficiency and shifting from conventional fossil fuels to sustainable alternatives like liquefied natural gas (LNG), ammonia, and methanol.
Nonetheless, the shipping sector faces unavoidable residual emissions. To combat this, NYK plans to offset these emissions by acquiring CDR credits, aiming for net-zero CO2 emissions.
Climeworks employs various advanced methods to extract and store CO2, including biochar, bioenergy with carbon capture and storage (BECCS), and enhanced rock weathering. NYK will utilize the CDR credits generated from these technologies to offset its residual emissions, particularly those classified as Scope 1, thereby aligning with its 2050 decarbonization target.
Moving forward, informed by an NYK position paper on CDR credits, the company will persist in advocating initiatives that contribute to GHG emission reduction. NYK is committed to working alongside customers to foster a decarbonized society.
Climeworks stands out as a pioneer in Direct Air Capture (DAC) technology, providing innovative methods to remove CO2 from the atmosphere. By merging engineered solutions with nature-based approaches, Climeworks aims to facilitate the global shift toward a net-zero future.