NYK and Yusen Logistics (YL) have introduced a digital platform for managing GHG emission reductions.
The platform is provided by 123Carbon, a Netherlands-based startup working on decarbonizing the logistics sector.
NYK and YL will use the platform to support the reduction of Scope 3 GHG emissions by allocating to platform customers the GHG emissions reductions achieved from the use of alternative fuels in our ocean, air and land transport services and issuing certificates confirming those reductions.
NYK generates and manages GHG emissions reductions by using biofuels in its bulk shipping business. YL will provide 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.
With the platform, customers can monitor GHG emissions 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. Additionally, the entire process is verified by a third-party certification organization to ensure the platform's reliability and transparency.