Carbon neutral strategy

The Mitsui Chemicals Group’s carbon neutrality by 2050

The Mitsui Chemicals Group believes that as a chemicals company we have an important role to play in helping to build a sustainable society that can limit the average global temperature rise to 1.5 degrees Celsius. Therefore, in November 2020, we declared our commitment to become carbon neutral by 2050. Our carbon neutral strategy is centered around the two pillars of (1) reducing our own greenhouse gas (GHG) emissions (Scopes 1 and 2), and (2) maximizing the avoided emissions of our products over their entire life cycle. We are starting off with the purpose of contributing greatly to the transformation of society.

1. Reducing GHG emissions of the Mitsui Chemicals Group (Scopes 1 and 2)

We plan to focus our efforts to reduce GHG emissions (Scopes 1 and 2) on production sites with greater emissions volumes. Specifically, we aim to reduce our GHG emissions by 40% by fiscal 2030 compared to fiscal 2013 through transitioning to low-carbon raw materials and fuels, conserving energy by installing highly energy-efficient equipment and the like, and adopting renewable energy. We have set this as one of our non-financial targets in VISION 2030.
In order to reach carbon neutrality by 2050, in addition to the aforementioned measures, we intend to achieve 80% or more of these reductions mainly through development of new technologies and the transition of our business portfolio—though this presupposes external factors concerning markets and customers falling into place. We also plan to pursue policies which include the development and implementation of carbon-negative technologies, such as carbon capture, utilization, and storage (CCUS), to handle the remaining 20%.

2. Maximizing avoided GHG emissions through provision of our products

Many of the chemical products we provide go through various life stages in the hands of our customers, including processing, use, and disposal. Through our supply of Blue Value™ products with environmental contribution value, we aim to maximize avoided GHG emissions over the entire product life cycle. In this way, we intend to help all of society achieve carbon neutrality. In order to reach carbon neutrality by 2050, we have set a 40% or greater Blue Value™ products sales revenue ratio as one of our non-financial metrics in VISION 2030. As part of our carbon neutral strategy, hereafter, we plan to incorporate measures to expand the lineup of and increase sales revenue ratio of Blue Value™ products into the individual strategies of each business domain.

Blue Value™ products sales revenue ratio

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