Nippon Yusen Kabushiki Kaisha Yusen Logistics Co., Ltd. Nippon Yusen Kabushiki Kaisha (NYK) and Yusen Logistics Co., Ltd. (YL) have introduced a digital platform for managing greenhouse gas (GHG) emission reductions, according to NYK's release.
The platform is provided by 123Carbon B.V. (123Carbon), a Netherlands-based startup working on decarbonizing the logistics sector. NYK and YL, a comprehensive logistics group, will use the platform to support the reduction of Scope 3 GHG-emissions by allocating to platform customers the GHG-emission reductions achieved through the use of alternative fuels in the ocean, air, and land transport services and issuing certificates confirming those reductions.
Process for Managing and Allocating GHG-Emission Reductions
- NYK Generates and manages GHG-emission reductions through the use of biofuels in its bulk shipping business, recognizes the environmental value of these reductions, then allocates them to YL and issues a certificate of confirmation. The first allocation will be completed on the platform after verification by a third-party certification organization.
- YL Procures GHG-emission reductions generated by ocean shipping companies like NYK and its airline partners and provides accompanying certificates. Additionally, for land transport, YL will utilize sustainable fuels derived from waste cooking oil and other renewable materials to power its own trucks in some countries and areas, actively creating and managing GHG-emission reductions as a transport operator. A one-stop service on the platform will be officially launched by YL shortly.
Key Features of the Platform
- Customers can monitor GHG-emission reduction methods and the alternative fuels used to generate the reductions.
- The management and allocation of GHG-emission reductions are secured using blockchain technology to prevent data tampering.
- The entire process, from calculating GHG-emission reductions to allocating, is verified by a third-party certification organization to ensure the platform's reliability and transparency. Diagram of GHG-emission-reduction management and allocation Background of Platform Introduction Achieving a decarbonized society is a global challenge that must be tackled head-on.