Mitsubishi Corporation (MC) has established new greenhouse gas (GHG) emission reduction targets and investment guidelines under its Roadmap to a Carbon Neutral Society, released in October of last year. MC plans to invest approximately 2 trillion yen by FY2030 to double its renewable power capacity and create supply chains for next generation energy sources, among other initiatives. Aiming to achieve these targets and address important societal challenges without compromising people’s wellbeing, MC will pursue integrated energy transformation (EX) and digital transformation (DX) initiatives that leverage the collective capabilities of the MC Group to create a new future. While striving to achieve a carbon neutral society, MC will continue to its responsibility to provide a stable supply of resources and energy
By grasping the needs of the times and leveraging innovation to continue to stay at least a half-step ahead, MC will strive to lead the next transformation, achieve sustainable growth for society and create value for the future, announces Mr Yano.
What are your plans regarding the GHG emission reduction targets? Do you feel the aim to halve emissions by 2030 and reach net-zero emissions by 2050 is realistic?
With the ultimate aim of achieving net-zero GHG emissions by 2050, MC has established a new emission reduction target for FY2030 and set out concrete reduction measures. These targets cover Scope 1 and 2 emissions for MC and its consolidated companies, including affiliates, based on the equity share approach. Today, there is an urgent need for decarbonisation initiatives in response to climate change.
The MC Group will continue to fulfil its responsibility as an active player in industries including resources and energy by maintaining a stable supply of energy, such as natural gas, while working to achieve a carbon neutral society.
How will you achieve that?
We will utilise every means available to halve our GHG emissions, including by replacing assets, switching operations to renewable energy and alternative fuels, and achieving energy savings through DX. We plan to invest approximately 2 trillion yen by FY2030, in areas including renewable energy, copper, natural gas, hydrogen and ammonia. Furthermore, we aim to achieve net-zero GHG emissions by 2050 by leveraging our global network and diverse presence across a wide range of industries to drive industrial transformation, as well as by embracing new technologies and innovation.
Can you explain more about the impact of digital transformation (DX) on your business?
We believe in taking an integrated approach to EX and DX. This means that by promoting DX through digitalization and the utilisation of innovative technologies such as artificial intelligence (AI), we can make the demand side more energy efficient and productive, reducing energy demand. At the same time, we are also seeking productivity improvements on the supply side, such as in mining operations, and aiming to reduce the loss of electricity as it is delivered to the point of use. These are just some of the ways in which we will pursue carbon neutrality through the combined implementation of EX and DX.
We aim to achieve energy savings and reduce waste by optimising supply chains while simultaneously enhancing industry competitiveness. We will also provide integrated services, tailored to the lifestyles and life stages of individuals and households, by connecting various data sources.
MC has identified making effective use of resources, reducing environmental impacts, enhancing resilience toward natural disasters and shifting to a decentralised society as measures to address some of today’s main societal challenges. Do you feel the same?
Yes, most definitely. In order to address these issues without compromising people’s wellbeing, we must utilise DX to create an efficient society that maximises the use of renewable energy, strengthens resilience through distributed infrastructure, optimises supply chains and reduces waste. MC has always served to underpin economic development and reliably meet the needs of society by developing value chains for essential commodities such as LNG, metallurgical coal, copper, automobiles and food supplies, as well as through renewable energy and DX-related initiatives.
I believe that we can achieve this by leveraging the unique characteristics of each city and region to create appealing, self- sustained and decentralised communities and smart cities for the benefit of local residents.