• When we embark on new investment projects, we subject them to environmental, social, and governance (ESG) impact assessments, using our ESG Due Diligence Checklists that consider environmental and societal risks based on international standards. Aspects covered by these assessments include pollution prevention, climate change, eco-systems, water stress, and human rights. Projects that are found to have significant implications then undergo internal screening under the Specially Designated Business Management System managed by our parent company.
• In relation to our forestry business in Australia, Mitsui has acquired Forest Stewardship Council (FSC) / Chain of Custody (CoC) certification - FSC-C104107 by Forest Resources Marketing Dept., Living & Environmental Business Div., Mitsui & Co., and FSC-107463 by Mitsui Bussan Woodchip Oceania(*1), as well as Programme for the Endorsement of Forest Certification (PEFC) / CoC certification. This allows us to promote the responsible management and handling of forest resources. Moreover, Mitsui Bussan Packaging holds FSC/CoC certification (FSC-C009939) which allows us to link certified paper supply chains and further promote responsible management of forest resources.
• The waters and islands surrounding the Shark Bay Salt Group(*2) operations form a World Heritage Site, which is known for their outstanding biodiversity and richness of wildlife. In order to maintain our operational rights in this, we ensure that site environmental management systems are implemented, audited and reviewed each year.

• *1 Mitsui Bussan Woodchip Oceania
• *2 Shark Bay Salt

• Mitsui has declared its support for the Task Force on Climate-related Financial Disclosures (TCFD) as part of our response to the growing importance of business sector action on climate change. Mitsui group companies in Oceania contribute to the annual survey on climate-related data conducted globally.
• Mitsui has set out a goal of net-zero emissions as our Vision for 2050. Towards this Vision in Oceania, we are working on a number of initiatives in the pipeline to promote energy solutions as well as carbon management.
• With an experience of having developed a wind farm in Victoria previously, Mitsui Australia continues to pursue opportunities to develop renewable energy projects to contribute to Mitsui’s global target – 30 per cent of our total power generation capacity to come from renewable sources by 2030.
• In Oceania, Mitsui group companies actively engage in discussions to address climate change risks – for example, leveraging our internal expertise in forestry development and management to maximise carbon management opportunities.
• At Mitsui Australia, we have achieved 43% reduction in electricity consumption since 2006 at our four offices and three residential assets (hence the equivalent amount of carbon emissions). We then offset 100% of the remaining emissions through Green Fleet.

• *1 Participation in power generation and power/gas retail business in Australia
• *2 MEPAU announces launch of carbon solutions business in Australia
• *3 Mitsui to Become Shareholder in Forestry Investment Manager New Forests
• *4 Mitsui is to invest in LanzaTech, a venture company which is developing gas fermentation process technology using microorganisms.
• *5 Shark Bay Salt
• *6 Mitsui E&P Australia
• *7 Energy

Renewable Energy Projects & Supplies

• Canunda Wind Farm through our investment in International Power (Australia) Holdings(*1) with ENGIE as our partner. It consists of 23 wind turbines, which produce 46MW of electricity capable of supplying around 30,000 homes in South Australia.
• Willogoleche Wind Farm also through our investment in International Power (Australia) Holdings with ENGIE as our partner. With 32 wind turbines, it produces 119MW of electricity capable of supplying around 80,000 homes in South Australia.

Through a joint venture with ENGIE as well as an equity finance partnership with Infrastructure Capital Group, we support other organisations to achieve their sustainability goals.

• In 2020, National Australia Bank (NAB) signed a three-year renewable energy supply agreement with ENGIE. The agreement will offset the power consumption of most of its branches across Australia in 2021, and the majority of its Australian operations by 2023, as a major milestone in NAB’s journey towards achieving its RE100 commitment to source 100% of its electricity from renewable sources by 2025.
• In 2021, ENGIE announced a long-term partnership with Coles to supply Large-scale Generation Certificates generated by Willogoleche and Canunda wind farms as part of its commitment to be powered by 100% renewable electricity by 2025.
• Flinders University will power all of its south Australian campuses with 100% renewable energy sources from 2021 through a five-year power purchase agreement (PPA) delivered by Simply Energy, a retail arm of our investment in International Power (Australia) Holdings. The PPA forms part of a range of renewable energy initiatives set out in Flinders University’s 2025 Sustainability Plan.
• Under the Memorandum of Understanding signed in 2021, Monash University and ENGIE will explore opportunities to co-develop scalable zero-carbon solutions that accelerate the implementation of Monash’s Net Zero Initiative. As part of its broader scope, the collaboration aims at exploring and developing Net Zero solutions for cities and major precincts worldwide.
• Over one hundred Catholic schools in Queensland will be powered by 100% renewable energy through a new long-term PPA between Brisbane Catholic Education (BCE) and ENGIE signed in 2021. The PPA will fulfil BCE’s key requirements to achieve immediate cost savings as well as a clear environmental benefit. Beyond Brisbane, St Augustine’s College in South East Queensland will also benefit from this PPA to accelerate the schools’ integration into Engie and Springfield City Group’s ‘Zero Net Energy Roadmap’. The Roadmap will see the entire Greater Springfield area powered by 100% renewables by 2023.
• As a step towards reducing its global greenhouse gas intensity, in 2021 Saputo Dairy Australia, a subsidiary of Saputo Inc., commenced a ten-year large-scale renewable PPA with ENGIE.

Environment-related Businesses and Projects

• Carbon solutions business: Mitsui E&P Australia (MEPAU) has acquired carbon offset developer Outback Carbon(*2). Combining Outback Carbon’s carbon project expertise and MEPAU’s investment and business management capabilities will enable MEPAU to work with landowners, local businesses, local communities and other stakeholders to develop carbon farming projects which will contribute to making ecosystems and landscapes more biodiverse and sustainable. Through collaboration with partners, MEPAU will explore further opportunities to scale-up and diversify its carbon solutions business including (but not limited to) carbon capture and storage and other new and recognised carbon farming methods and technologies.
• Demonstration project for oxyfuel and CCS technologies: Mitsui participated in the Callide Oxyfuel Project, a public-private initiative by Japan and Australia with the objective to realise zero-emission electricity generation at coal-fired power stations. The project uses carbon capture and storage (CCS) technology called oxyfuel technology for recovering CO2 from coal-fired power stations and storing it underground. This demonstration project was completed successfully, and we are now exploring the potential for commercial utilisation.
• Secondary battery materials: At Mitsui Australia, we are engaged in development of a stable production and supply platform for secondary battery materials, especially for lithium-ion batteries.
• Carbon credits: Mitsui has invested in New Forests(*3), which maximises the value of its sustainable forestry asset through a combination of timber harvest and carbon-offset sales, which as a result contributes to the prevention of global warming
• Micro-organism gas fermentation: Mitsui has invested in LanzaTech(*4) which is developing technology to produce fuels and chemicals through the microbial fermentation of CO, CO2 ad other gases. Through this investment, we are building global business that will contribute to the reduction of GHG emissions and the creation of a circular economy.
• Carbon fibre wheels: Mitsui has formed a strategic partnership with Carbon Revolution, an innovator and supplier of carbon fibre wheels, which are 40 per cent lighter than normal wheels. The unique properties of carbon fibre – lightweight, high strength and stiff, provide a great performance improvement and in turn a greater energy efficiency.

Less Carbon-intensive Businesses

• Shark Bay Salt Group(*5) owns and operates two salt fields at Shark Bay and Onslow in Western Australia. Over a period of 2-3 years, we produce solar marine salt from water taken from the nearby ocean, using the natural power of the sun and wind, with almost zero carbon emission.
• Through Mitsui E&P Australia(*6) and Japan Australia LNG (MIMI)(*7), we participate in natural gas / LNG development projects to ensure stable supplies of gas-derived energy, which have a relatively low environmental load compared to other fossil fuels.

At Mitsui Australia, we are also aiming to build a metal and steel scrap supply network in preparation for the global recycling society of the future. Mitsui has also invested in Sims Metal Management, a leading collector, processor and supplier of recycled metal in Australia.

Mitsui Australia has formed a strategic partnership with SRJ Technologies. SRJ offers a range of engineering services and weld-free containment management solutions help operators in the energy, chemicals and mining & meals sectors extend the life of existing assets rather than replacing them.

The Business Conduct Guidelines of Mitsui & Co. group companies prescribe and require the following.

• All employees must comply with all laws and regulations concerning the protection of the environment and make every effort to be informed and aware of environmental issues concerning Mitsui and its business.
• All business undertaken by Mitsui must be conducted in accordance with the laws and regulations concerning the protection of the environment and every effort must be made to try to ensure, so far as reasonably possible, that Mitsui’s business does not cause damage to the environment. All employees must always conduct an environmental assessment to ensure that this is the case.

In designing our new Sydney office, sustainability was a key focus. Large amount of furniture was reused from existing site, reducing waste. All local Australian furniture suppliers were selected to minimise carbon footprint by reducing travel distances and associated shipping. Supplier selection was also based on their environmental initiatives such as Biosafety Cabinet Certification, Good Environmental Choice Australia accreditation, cradle to cradle programs, and renewable energy and water stewardship programs. All new lighting is LED, consuming less power and reducing greenhouse emissions. Many of the newly introduced products were sustainably produced, reusable and/or with recycled content.

• *1 Mitsui Bussan Woodchip Oceania