In a groundbreaking move for the maritime industry, Japanese shipping giant NYK Line has signed a three-year carbon dioxide removal (CDR) purchase agreement with Swiss climate technology leader Climeworks. This partnership marks NYK as the first Japanese firm to secure a portfolio of CDR credits, signaling a significant shift in how shipping emissions are addressed.
The deal, announced on May 7, 2025, will see Climeworks provide NYK with carbon credits derived from various CO2 removal technologies, including biochar, bioenergy with carbon capture and storage (BECCS), and enhanced rock weathering. These credits, which will begin delivery in fiscal year 2026, are intended to support NYK's ambitious goal of achieving net-zero emissions by 2050.
As one of the largest players in the global shipping industry, NYK is well aware of the sector's heavy environmental footprint. The company has been actively working on a sustainability strategy aimed at reducing its CO2 emissions and enhancing energy efficiency. This strategy includes transitioning from traditional, coal-based fuels to more climate-friendly alternatives.
In early 2025, NYK released a position paper outlining its commitment to expanding its sustainability efforts through investments in carbon dioxide removal. The newly announced agreement with Climeworks reinforces this commitment, as the carbon credits obtained will be used to address the company's residual emissions, particularly those classified as Scope 1 emissions, which are directly tied to its shipping operations.
NYK's decision to partner with Climeworks comes at a time when the shipping industry is under increasing pressure to reduce its carbon footprint. According to NYK, "This contract demonstrates NYK’s commitment to decarbonising its operations through both emissions reductions and removals." The company aims to complement its ongoing emission reduction strategies with high-integrity carbon removals, thereby closing its emissions gap.
The CDR portfolio that Climeworks will provide NYK is tailored specifically to the company's needs, incorporating a mix of engineered and nature-based technologies. This blend is designed to permanently remove CO2 from the atmosphere, offering a durable solution for the shipping industry's unavoidable operational emissions. As NYK continues to improve energy efficiency and shift towards lower-carbon fuels such as liquefied natural gas (LNG), ammonia, and methanol, it acknowledges that some residual emissions will remain a challenge.
NYK's partnership with Climeworks is part of a broader trend in the maritime sector, where companies are increasingly exploring innovative solutions to combat climate change. The agreement not only highlights NYK's leadership in sustainability but also sets a precedent for other firms in the industry.
Climeworks, known for its pioneering direct air capture (DAC) technology, launched its Climeworks Solutions service in April 2024. This service offers high-quality, thoroughly vetted portfolios of carbon removal tailored to the specific needs of clients. By securing CDR credits from a trusted provider like Climeworks, NYK is reinforcing its strategy to offset residual emissions as part of its 2050 net-zero roadmap.
Furthermore, NYK has expressed intentions to expand partnerships across its value chain to support broader decarbonization efforts. This proactive approach is crucial as the shipping industry grapples with the challenges of reducing emissions while maintaining operational efficiency.
In conclusion, NYK's agreement with Climeworks represents a significant step forward in the shipping industry's journey toward sustainability. By investing in carbon dioxide removal technologies, NYK is not only addressing its own environmental impact but also setting an example for other companies in the sector. As the world continues to confront the realities of climate change, initiatives like this will be vital in achieving global emissions reduction targets.
