Tata Steel signs MoU with MOL in its endeavour for a responsible supply chain

GHG emissions reduction technologies for ocean transportation to be explored

August 2021: In line with its larger sustainability objective and efforts to reduce greenhouse gas emissions in the supply chain, Tata Steel has signed a Memorandum of Understanding (MoU) with Mitsui O.S.K. Lines (MOL), a global marine transport group, on August 6, 2021to develop and deploy environment friendly shipping solutions.

Peeyush Gupta, Vice President, Supply Chain, Tata Steel, said: “The objective of the agreement is to reduce greenhouse gas (GHG) emissions in the ocean transportation of raw materials for production of steel. In the initial stage, the partnership will explore the environmental benefits and commercial and operational feasibilities of various technologies. This will include the "Wind Challenger", a hard sail, which would reduce emissions by harnessing wind energy. MOL has been jointly studying the technology with cross-industrial partners and the first vessel to be equipped with the Wind Challenger is slated to start operation in 2022.”

Ranjan Sinha, Chief Group Shipping and Director RM Procurement of Tata Steel, said: “Tata Steel as a member of ResponsibleSteelTM is committed to aligning its shipping activities with responsible environmental behaviour. We are pleased to be joining hands with MOL, a reputed global marine transport company, in combining efforts towards sustainable shipping.”

Toshiaki Tanaka, Senior Managing Executive Officer and Chief Environment and Sustainability Officer, MOL, said: "We have recently established MOL Group Environmental Vision 2.1, wherein we have announced that MOL Group will make a concerted effort throughout the Group, to achieve net zero GHG emissions by 2050. There would be a long, long pathway to achieve the Vision 2.1, and we believe that working collaboratively with a good partner is important. The partnership with Tata Steel, a leading global steel company, encourages MOL to challenge goals for the Vision 2.1. We are very much happy to have this opportunity.”

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