NYK Line to buy CDR credits from Graphyte

Japanese shipping company Nippon Yusen Kaisha (NYK Line) will purchase carbon dioxide removal (CDR) credits from US-based carbon-removal firm Graphyte.

IMAGE: Getty Images

The CDR credits will be generated from Graphyte’s carbon-removal Loblolly project in Arkansas, US.

The project applies a carbon-casting technology to dry and compress biomass residues like from agriculture, forestry and wood processing.

The carbon contained in these plant-based resources can be converted into a stable solid form and stored underground for long-term sequestration, to prevent the release of CO2 into the atmosphere, NYK Line said.

CDR credits generated by this project will be certified through a measurement, reporting, and verification conducted by independent third parties, the shipping company added.

While also pursuing other decarbonisation measures like the use of alternative marine fuels like ammonia and methanol, NYK Line aims to use the CDR credits to offset CO2 emissions from its maritime operations.

Negative emissions, or carbon dioxide removal, is a process of removing CO2 from the atmosphere and storing it for other purposes. 

Graphyte issues CDR credits by converting biomass into a solid form for long-term underground storage.

By Aparupa Mazumder

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