Nippon Yusen Kabushiki Kaisha (NYK) and Yusen Logistics Co., Ltd. (YL) introduced a digital platform for managing greenhouse gas (GHG) emission reductions.
The two companies will use the platform, provided by 123Carbon B.V., 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 ocean, air, and land transport services and issuing certificates confirming those reductions.
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.
According to the statement, NYK will generate and manage GHG-emission reductions through the use of biofuels in its bulk shipping business. In addition it will recognize the environmental value of these reductions, then allocate them to YL to issues a certificate of confirmation. The first allocation will be completed on the platform after verification by a third-party certification organization.