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Mitsui O.S.K. Lines
Japan
As an ocean freight and shipping company, Mitsui O.S.K. Lines' (MOL) business has inherent environmental benefits. A study released by Carnegie Mellon's Department of Civil and Environmental Engineering examining sustainability issues in the transportation sector reveals that on a per ton-mile basis ocean freight has the lowest climate change emissions, toxic air, and total releases of all freight modes. Beginning with this advantage, MOL continues to improve energy efficiency across its transportation businesses and publishes data on its progress in reducing CO2 emissions per unit load for its ocean vessels. The company utilizes a variety of technologies to achieve its reduction targets, including an energy-saving propeller design and improved hull designs, which reduce wind and water resistance. MOL also promotes energy efficiency at its port facilities and encourages the use of rail over truck transport. The company's comprehensive environmental policy encompasses environmental protection, material and energy conservation, and green procurement. These values are threaded throughout MOL, from its executives to its ship operators. Portfolio 21 has asked the company to expand its reporting to include group-wide reduction targets.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 8/31/07 and may not reflect current opinions or subsequent events.