MOL Group Environmental
Vision 2.2

MOL established the "MOL Group Environmental Vision 2.2" as a new roadmap to achieve net zero greenhouse gas (GHG) emissions by 2050 and promote the sustainable development of people, society, and the Earth in April 2023.
The "MOL Group Environmental Vision 2.2" reflects steady progress from "MOL Group Environmental Vision 2.1" announced in June 2021, and is aimed at stepping up the effectiveness of its initiatives by adding and updating key performance indicators (KPIs) and milestones toward achieving its sustainability goals. The updated vision also more clearly defines the group's net-zero emissions transition plan by drawing a specific pathway to reduce GHG emissions.

MOL Group Environmental Vision 2.2[8.72MB]

• * The "Track Record of Environmental Impact Reduction" and "KPI Results" in the Appendix are updated as needed.
• * For further details on our climate change measures, please refer to the Climate Change Countermeasures / Task Force on Climate-related Financial Disclosures (TCFD).

Overview

KPI & Milestones

To ensure the achievement of net-zero emissions, we have set quantitative KPIs and milestones for measuring progress for each action.

Progress

We are making steady progress toward achieving each goal and milestone set forth in the "MOL Group Environmental Vision 2.2".

Progress toward medium- to long-term targets

(*1) If residual emissions remain in the net zero target year(2050), we will neutralize them with Carbon Dioxide Removal(CDR).

Progress on Milestones

• (*1) Actual on a decision-making basis; actual investment in FY2024 is 347.9 billion yen out of this amount.
• (*2) Including the amount of biodiesel used that meets the conditions of the IMO Provisional Guidance (International Certification Scheme, Emission Intensity Conditions) published in MEPC80 in July 2023.
• (*3) Due to increase in sulfur content (average) in fuel.

Initiatives related to carbon credits

To ensure achieving the neutralization of remaining emissions anticipated in the future and to promote the spread and expansion of negative emissions in order to achieve decarbonization throughout society, we are advancing both nature-based and technology-based initiatives from the early stage. Specific examples are shown below.

[Nature-based solutions]
We will contribute to biodiversity and local communities in addition to decarbonization through support for projects such as forest and mangrove regeneration. Since January 2022, we have been participating in a blue carbon project aimed at restoring and conserving mangroves in South Sumatra, Indonesia. The project aims to reduce CO₂ emissions by about 5 million tons through forest conservation activities and to absorb/store another 6 million tons of CO₂ through afforestation of mangroves and other plants on about 9,500ha of bare land in the next three decades.

[Technology-based solutions]
By engaging with CO₂ removal technology projects now, we will contribute to innovation and cost reduction of underfunded elements of nascent technologies.
As one of the founding buyers of the NextGen CDR Facility and a member of the First Movers Coalition's CDR sector, we are committed to purchasing at least 50,000 tons of CO₂ removals utilizing CDR technologies by 2030.

We will give due consideration to the integrity of the CDR credits we procure by selecting credits that have been certified by third-party organizations, as well as by referring to external evaluations and individually verifying them ourselves by referring to relevant guidelines.

Previous Environmental Visions