From November 11 to 22, our company participated in various events at COP29 (the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change) held in Baku, the capital of Azerbaijan, where we communicated our specific initiatives regarding climate change in international marine shipping and within our group.
At COP29, various countries' governments and related industry organizations hosted many side events to disseminate information on climate change efforts, along with various panel discussions for active dialogue among participants. Our representative director and vice president, Akira Kono (head of the esg strategy division), participated as a panelist in the Japan Pavilion, actively communicating our group's decarbonization efforts and the challenges facing the international marine shipping industry. The event was broadcast online, widely appealing to many viewers outside the COP29 venue regarding our group's initiatives.
We actively exchanged opinions and gathered information with various organizations and stakeholders in attendance. Taking this announcement at COP29 as an opportunity, we will continue to collaborate with even more partners to actively contribute to realizing a sustainable future.

■ November 19 (Tuesday) Sponsored by Nihon Keizai Shimbun "Creating the Future: Our Efforts Towards a Decarbonized Society - NIKKEI Decarbonization Project Special Seminar"
Presentation content: We explained the new decarbonization goals set forth in the NYK Group Decarbonization Story released in November 2023 and the progress of three specific actions (completion of ammonia fuel tugboat, promotion of biofuel usage, and energy efficiency improvement). In a discussion with Yukari Takamura (Professor at the University of Tokyo Future Vision Research Center) and Jun Ando (Editorial Board Member, Nihon Keizai Shimbun), we discussed the challenges companies face in realizing a decarbonized society.

(Image 1) Opening remarks by Minister of the Environment, Keiichiro Asao.

(Image 2) Kono participating in the discussion (fourth from the right).

■ November 21 (Thursday) Climate Change Initiative (JCI) organized "Path to the 1.5°C Target: Japan's Non-Governmental Actors Challenging Decarbonization."
Presentation content: Participating companies engaged in a panel discussion regarding their efforts and challenges towards achieving the 1.5°C target. As an international marine shipping company, we pointed out the need to establish international uniform rules and align our efforts through close cooperation with all stakeholders.

(Image 3) Kono speaking at the event (fourth from the right).

Exhibition of the development status of GHG monitoring technology from satellites at the partner company booth.
At the Japan Pavilion, the exhibit by Arkedge Space Co., Ltd. showcased a geospatial information platform capable of detecting and analyzing natural environmental changes and risks using satellites, in which our company also participated in the verification of the development status of GHG monitoring technology using satellites.
The exhibition panel introduced the results of remote sensing experiments on GHG emissions changes according to the combustion ratio of ammonia and fuel oil, assuming ammonia fuel ships. This experiment was led by our company in collaboration with multiple partner companies.
In an era where the reduction of GHG emissions during cargo transportation holds value as Scope 3 GHG reduction for many stakeholders, emission data is becoming increasingly important. Our company is promoting the exploration of monitoring through satellites as one of its initiatives to ensure transparency through third-party monitoring.
For more details, please refer to the 'Progress Report 2024 as Annex to the NYK Group Decarbonization Story.'

(Image 4) Exhibition of GHG monitoring technology (at the Arkedge Space Co., Ltd. booth).

The nyk line group announced its medium-term management plan "Sail Green, Drive Transformations 2026 - A Passion for Planetary Wellbeing -" on March 10, 2023. With the corporate philosophy of "Bringing value to life," it sets a new vision for 2030: "Beyond the framework of a comprehensive logistics company, we will co-create the value needed for the future through deepening our core business and growing new businesses," and promotes a growth strategy centered around esg.