On October 4, Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) completed J-Credit Scheme registration for wood biomass cogeneration facilities in Kobe City, Hyogo Prefecture, owned by its affiliate company Konan Utility Co., Ltd. ("Konan Utility", President: Hiroyuki Irie). The reduction of 36,120 t-CO2 (tons of carbon dioxide) per year predicted by J-Credit for this registered project is the largest amount for any single registered project out of the 742 registered to date. The entire amount of J-Credits Mitsui had planned to generate across eight years from spring 2020 will be collected from Konan Utility, the project executer.
J-Credit Scheme is a system whereby CO2 reduction through renewable energy and energy conservation is certified by the government as tradable credits, and since launching in April 2013, the scheme has realized a cumulative reduction amount of 3.71 million t-CO2. It is also one of the certification systems approved for use in RE100 (Renewable Energy 100%), an international initiative whereby member companies aim to procure 100% of business operations through renewable energy. Mitsui aims to contribute to the widespread use of renewable energy in Japan by increasing the liquidity of J-Credits, without relying on Feed In Tariffs (FIT).
Mitsui recognizes that responding to climate change and raising the important management issue of "materiality", or in other words, maintaining the global environment, will bring new business opportunities for the company. Mitsui will continue to engage in dialogue by expanding its business transactions with companies who are highly cognizant about ESG management, such as RE100 member companies, and will work to promote new products and services which serve a low-carbon society.
For more information, please visit the J-Credit Scheme website.