NYK has signed an agreement to invest in the Marunouchi Climate Tech Growth Fund, a new investment fund that will finance and grow climate tech startups contributing to decarbonization, according to the company's release.
Financing will occur through Marunouchi Innovation Partners Co. Ltd. (MIP), which is owned by Mitsubishi Corporation (MC), MUFG Bank, Ltd. (MUBK), and Pavilion Private Equity Co. Ltd. (PPE).
NYK has established a long-term target of net-zero emissions of greenhouse gas (GHG) by 2050 for the NYK Group's oceangoing businesses. Further, in its new medium-term management plan “Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing ,” NYK sets forth its intention to carry out active up-front investment towards GHG reduction.
Through its participation in the Fund, NYK will seek to implement co-creation with startups introducing ideas and technologies, and will aim to achieve decarbonization of its business and the creation of new business to add value to society.
NYK has launched its new "NYK GREEN EARTH" brand to emphasize NYK's ESG efforts to create new value initiatives for low carbon and decarbonization through green businesses.