Contribute to the realization of decarbonized societies by striving to reduce greenhouse gas (GHG) emissions, while providing products and services that support decarbonization during the transition period.
Action Plan Regarding this Material Issue
We regard achieving a decarbonized society as one of our important corporate issues that should be challenged, and are promoting carbon reduction and decarbonization through our business activities with “Contributing to Decarbonized Societies" as one of our materialities. By leading this transformation and "connecting" it to our own business growth, we will create MC Shared Value. In addition to promoting our own decarbonization (Halve by FY2030 (compared to FY2020) and net zero by 2050), we will contribute to the decarbonization of society by creating avoided emissions through EX-related investments on a scale of 1.2 trillion yen over the three-year period of Midterm Corporate Strategy 2024.
Doubling Renewable Energy Power Generation Capacity
MC is expanding its renewable energy business in Japan and abroad to achieve a decarbonized society. In connection with this initiative, MC is moving ahead with the goal of doubling its renewable energy equity generation capacity from 3.3 GW in FY2019 to 6.6 GW in FY2030.
Current generation capacity (net equity basis), including assets under construction, is 3.9 GW (as of the end of September 2024).
Implementation of Next Generation Energy Supply Chains
MC is promoting the practical implementation of hydrogen and its derivatives such as ammonia to the society. MC is proceeding with joint investigation with our partners at each stage of the value chain, “production,” “transportation” and “usage.” We are also promoting the societal implementation of Sustainable Aviation Fuel (SAF) in the area of aviation fuel, where electrification and hydrogenation are difficult.
Supply of Mineral Resources to Promote an Electrified Society
Mineral resources such as copper are essential products which are used for renewable energy and electrification and are vital to achieving a decarbonized society. MC aims to expand our copper business through organic growth opportunities in existing assets, which boast some of the world’s largest copper reserves, increasing our interest in existing assets, acquiring new assets and utilizing new technologies to improve resource recovery.
CCUS Initiatives
MC, as a company aiming to contribute towards achieving the goals of the Paris Agreement, recognizes that CCUS will play a major role in achieving those goals. The International Energy Agency (IEA) has stated that CCUS must be used to reduce roughly 1.5 billion tons of CO2 emitted in 2050 in order to achieve the 1.5°C target (the remaining amount to be reduced through renewable energy and energy-saving technology), and the Intergovernmental Panel on Climate Change (IPCC) has also emphasized the role that technology should play. CCUS is a field that spans multiple industries, from those that are the source of CO2 emissions, to those that produce end-products such as fuel and chemical materials. Therefore, MC recognizes CCUS as a business opportunity to demonstrate its collective capabilities as a company that interacts with many industries. To take advantage of this business opportunity, MC will promote the commercialization of CCUS by establishing a task force spanning multiple business groups as well as a liaison committee.
Here are our representative low-carbon and decarbonization related projects that contribute to the realization of this Action Plan.
Further details regarding MC's initiatives on climate change are available here.