Why Environmental Attribute Certificates Matter
Environmental Attribute Certificates convert verified climate benefits into transferable digital tokens connected to specific transport activities. Each certificate stores data on fuel type, route, and emissions factor, creating an auditable trail that companies can retire against Scope 3 inventories. Because certificates are digital, they deliver measurable progress today while capital raised from their sale funds tomorrow innovations.
How the Partnership Works
MOL purchased air travel certificates issued by ITOCHU to balance greenhouse gases from employee flights. ITOCHU acquired sea freight certificates generated by MOL to address emissions from cargo movements. The exchange ran on 123Carbon, a Dutch registry that records issuance, transfer, storage, and retirement in one ledger, eliminating double counting. Both firms remain certificate users, not brokers, keeping activity tied to real operations.
A Fresh Model for Japanese Logistics
The cross sector purchase offers a valuable insight: certificates can move in both directions among partners rather than only downstream to customers. By valuing emissions from travel and freight equivalently, each company created an internal market for climate gains. If replicated, two way exchanges could shrink supply chain footprints while keeping finance circulating inside Japanese industry instead of flowing to overseas offset projects.
Conclusion
MOL and ITOCHU prove collaboration, transparency, and digital tools can unlock immediate Scope 3 progress. Their pilot demonstrates a scalable method for companies reliant on transport to compensate today while preparing for cleaner fuels tomorrow. Expect more circular certificate trading relationships as standards mature.