Mitsui O.S.K. Lines (MOL) has partnered with Shell Trading Rotterdam B.V. on a book-and-claim initiative that enables the Japanese shipping company to offer Environmental Attribute Certificates (EACs) generated by the use of low-carbon fuel on third-party-operated vessels.

The collaboration uses the Market-Based Measures Accounting Framework published by Smart Freight Centre (SFC) together with the registry provided by 123Carbon.

Under the arrangement, lifecycle greenhouse gas (GHG) emissions reduction value created by switching from very-low-sulphur fuel oil (VLSFO) to fatty acid methyl ester (FAME) on a vessel not operated by MOL was allocated to the company and, following verification under the MBM Framework, converted into environmental attribute certificates.

These certificates are then offered to MOL customers through the company’s carbon insetting and book-and-claim programme, Blue Action Net-Zero Alliance.

MOL said the initiative broadens the lower-carbon transport options it can provide to customers and highlights the potential of book-and-claim mechanisms to meet a range of decarbonisation needs across the maritime sector.

The company added that, as demand grows not only in shipping but also in air and land transport for environmental attribute certificates, it intends to explore further opportunities for collaboration with Shell in order to expand the lower-carbon transport options available to customers.

Under the MOL Group’s 'Environmental Vision - Blue Action 2035 Phase 2,' carbon insetting is identified as one of the “Initiatives Complementing Net-Zero.”

Environmental attribute certificates are certificates detailing environmental attribute information, including carbon intensity, GHG emissions reductions and other sustainability characteristics linked to a given quantity of low-carbon fuel used for a low-carbon transport service.