NYK Partners With Climeworks to Remove CO₂ Through Diverse Carbon Removal Solutions

Key take-aways

Climeworks provides NYK with three durable solutions to remove a part of the shipping company’s residual emissions by 2028.

NYK is Climeworks’ first carbon removal portfolio client from Japan, demonstrating rising demand for our end-to-end portfolio expertise.

Carbon removal solutions will be critical for hard-to-abate industries like shipping to neutralize residual emissions.

Climeworks, a global leader in carbon removal, and NYK, one of the world’s largest shipping companies, signed an agreement to remove CO₂ from the air until 2028. The carbon removal portfolio tailored for NYK includes three durable solutions that will support the Japanese shipping company’s net-zero target.

Facing a business reality: hard-to-abate emissions

NYK will remove part of its residual emissions with Climeworks’ carbon removal portfolio. The three solutions—Biochar, Bioenergy with Carbon Capture and Storage, and Enhanced Rock Weathering—are all approaches that durably remove CO₂ from the air. The portfolio blend matches the Revised Oxford Principles for Net Zero Aligned Carbon Offsetting, which state that companies need to shift to removals with long-term storage by their net-zero target date.

Yuko Tsutsui, Managing Executive Officer, Chief Executive of Sustainability & Transformation Headquarters of NYK says: NYK is committed to achieving net-zero greenhouse gas emissions across Scopes 1, 2, and 3 by 2050. We’re taking steps to comply with the International Maritime Organization’s (IMO) recent announcement of a binding carbon price and simultaneously pursue additional solutions for hard-to-abate emissions. As part of these efforts, our pilot purchase marks the beginning of a multi-year collaboration with Climeworks, who will help us establish a science-based carbon dioxide removal (CDR) strategy. By integrating CDR alongside compliance with IMO’s regulations, NYK aims not only to accelerate emissions reductions but also anticipate the maritime industry’s growth trajectory beyond 2030, ultimately contributing to a more sustainable future for international shipping.

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Creating value with a portfolio approach

Climeworks launched its portfolio offering, Climeworks Solutions, in April 2024 to provide bespoke solutions that unlock business opportunities and foster innovation in the young carbon removal market.

"We're thrilled to partner with NYK as our first carbon removal portfolio client from Japan. Scaling diverse high-quality solutions is what science recommends, what will lower the barriers for entry for others, and what companies will ultimately benefit from the most. There’s still so much untapped economic potential in this market, and it’s encouraging to see leaders like NYK step up in the hard-to-abate sector."