Speedily conduct development of renewable energy business and initiatives for hydrogen and SAF
The key to the success of energy transitions is thorough preparation and development. The Group believes that the turning point toward carbon neutrality in society will be around 2030, and we will strive to establish strategic advantages during the period of the third and fourth Medium-Term Management Plans. We will execute preemptive measures for the creation of mechanisms and the strengthening of the structure in anticipation of multiple scenarios for carbon neutrality to prepare for the flowering phase from 2030 onward.
Basic Policy of Third Medium-Term Management Plan (Measures for Energy Transition)
Below are the specific initiatives for realizing energy transitions.
Renewable Energy
Strengthen power generation with renewable energy sources like solar, wind, and biomass, and continue to support the provision of energy in Japan as a major player in a carbon neutral society.
SAF
Engage in early creation of SAF import system in addition to continuing consideration aimed at the start of operation of the first SAF manufacturing plant.
Low-carbon high-octane gasoline
Synthetic fuels made of CO₂ and hydrogen are expected to serve as next-generation automotive fuels. The Group has been working on research and development since an early stage.
Hydrogen
The Group is focusing on the creation of diverse new businesses that utilize hydrogen. These include the establishment of supply chains using hydrogen produced overseas where there are abundant resources including renewable energy, the nationwide deployment of energy supply systems that enable local production for local consumption, and the expansion of the hydrogen and synthetic fuel supply business for the transportation sector. We are now conducting various projects in collaboration with companies and local governments in Japan and overseas.
CCS
Toward the transition to decarbonization, we are advancing implementation of CCS ahead of other companies since the fiscal 2022 in order to maintain its domestic business base that is indispensable for stable energy supply. We aim to create added value by reducing CO₂ emissions of other companies in addition to our own emissions, and we are strengthening and building our value chain in preparation for the future expansion of CCS.
Forest Absorption
Along with CCS, which artificially fixes CO₂, we will utilize absorption by forests and other natural absorption methods as an important means of CO₂ removal. In Japan as well as overseas, where there is high potential for the forestry business, we are conducting projects that create carbon credits through afforestation, forest conservation and responsible forest management. By increasing natural absorption and creating carbon credits, we aim to offset our own greenhouse gas emissions.