MOL signs 'Making Net-Zero Ammonia Possible' proposal from public-private partnership for decarbonization in which a WEF participates

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) announced that it signed the Sector Transition Strategy "Making Net-Zero Ammonia Possible (Note 1)," a public-private partnership "Mission Possible Partnership (Note 2)" aimed at promoting decarbonization in industry.

The proposal identifies this decade as a critical period toward the decarbonization of the ammonia industry by 2030, and sets out specific action requirements for stakeholders on what clean energy, industrial plants, and policy reforms, etc. should look like across the entire value chain in order to reach the Paris Agreement targets by 2050 (Note 3).

MOL established "MOL Group Environmental Vision 2.1" in June 2021 as a guide to realize a sustainable society, and set the target to achieve net zero greenhouse gas (GHG) emissions by 2050. It endorsed and signed the proposal because it is consistent with the company's efforts to achieve net zero emissions and with the MOL Group corporate philosophy.

MOL Executive Vice President Executive Officer Toshiaki Tanaka was invited to a September 19 session on the proposal, held during the Sustainable Development Impact Meetings (Note 4) organized by the World Economic Forum. In his speech, Tanaka also mentioned MOL's clean alternative fuels strategy toward decarbonization, among them the potential of ammonia, and confirmed that the company will work more closely with all parties involved to establish safe and clean supply chains.

MOL continues to contribute to the realization of a decarbonized society through concerted group-wide efforts.