HMM to Sell Carbon Emissions Reduced by Using Biofuel to IKEA

Contract for Scope 3 Rights Transfer to IKEA
Expanding 'Green Sailing' Using Eco-Friendly Fuels

HMM sold the expected carbon reduction from using biofuel this year to the international household company IKEA.

HMM announced on the 11th that it had signed a 'Green Sailing Service' contract with IKEA Sweden.

HMM transfers the Scope 3 rights for the amount of greenhouse gas reduction that can be achieved over the next year by using biofuel this year. Scope 3 is a standard that includes all emissions generated throughout a company's value chain, such as product use, employee commuting, and supply chain.

HMM sells the increased carbon reduction from using biofuel, and IKEA secures carbon reductions beyond the limits it can reduce on its own. HMM is estimated to reduce about 11,500 tons of greenhouse gases through biofuel use this year.

With this, HMM has expanded its services to include Green Sailing following the annual cargo transportation contract with IKEA. Going forward, it plans to further activate such Green Sailing services through diversification of eco-friendly fuels. HMM is already scheduled to acquire two 7,700 TEU LNG-powered vessels by the end of this year and nine 9,000 TEU methanol-powered vessels next year.

An HMM official stated, "Through proactive and continuous investments in carbon neutrality, such as introducing eco-friendly fuels and developing a supply chain carbon calculator, we will turn environmental friendliness into a new opportunity."