JOGMEC Carbon Neutral Initiative：Basic Policy and Action Plan
The priority mission of JOGMEC is to secure a stable and affordable supply of energy and mineral resources to maintain and strengthen Japan’s industrial base, economic prosperity, and people’s everyday lives. JOGMEC is simultaneously actively working to reduce health, safety, and environment risks associated with resource development. In its fourth mid-term targets, JOGMEC contributes to a stable and affordable supply of energy and resources by adding value and conducting geological surveys from a medium- to long-term perspective, aiming to improve competitiveness related to resource acquisition, providing financial support, and ensuring energy security and core materials. Simultaneously, JOGMEC is working on measures to address environmental issues related to resource development.
Specifically, JOGMEC has been actively working on developing technology and resource energy for decarbonization to tackle climate change. These include the development of carbon dioxide (CO2) sequestration/recovery, metal recycling, and geothermal technologies and resources. The “JOGMEC’s Initiative for Achieving Sustainable Development Goals (SDGs)” was announced in December 2018. “Responding to climate change and contributing to the construction of a cyclical society” was one of the five action pillars emphasized, and the policy showed that the organization will engage in concrete measures against climate change.
In July 2020, the “Technical Business Strategy for a Low-Carbon Society” was formulated, and a “CCS Group” was also established within JOGMEC, during which a policy for strengthening support for low-environmental-impact oil and gas development using carbon capture and storage (CCS) technology was announced.
Trends relating to climate change issues and decarbonization are rapidly increasing. In October 2020, Japan also set its clear national target of “carbon-neutral by 2050,” and it is considered that the conversion to clean energy such as renewable energy and decarbonized fuel (hydrogen and ammonia) will also accelerate. Gradually decarbonizing energy ensures a stable supply of energy, and economic rationality is necessary to establish a carbon-neutral society as the energy structure continues to become more complex; fossil fuels continue to play an important role in this. Additionally, fossil fuels as vehicles that transport hydrogen and combine them with technologies that reduce CO2 emissions, such as CCS and carbon recycling, are expected to play a role in supplying the decarbonized fuels of hydrogen and ammonia in a stable and affordable manner. JOGMEC, which has long been responsible for the development of fossil fuels, has abundant technology and knowledge regarding underground resources and a cooperative relationship with resource-rich countries; it is expected to have a greater role and responsibility than ever before in developing decarbonized resources and energy, as well as aiming to simultaneously achieve climate change measures and secure a stable resource and energy supply through these actions. Based on this, on April 1, 2021, the “Carbon Neutral Promotion Headquarters” was newly established as a cross-sectional organization to promote projects that contribute to carbon neutrality through JOGMEC.
JOGMEC hereby declares that the entire organization will work towards achieving carbon neutrality by 2050 based on the following three basic policies. JOGMEC will also implement the projects described in the following action plan as part of a concrete approach to carbon neutrality. Through these actions, JOGMEC will contribute to the realization of an virtuous cycle of economy and environment for a decarbonized society in future via a stable resource and energy supply in Japan, while flexibly responding to the changing energy demands. Simultaneously, JOGMEC will take on the challenge of solving difficult issues while modifying and transforming roles and functions in response to societal demands.
Three Basic Policies for Achieving Carbon Neutrality
With the recognition that fossil fuels continue to be an important energy source even while achieving a carbon-neutral society, we will contribute more than before to securing a stable supply of resources and fuel such as oil, natural gas, and metals. Furthermore, we will promote efforts that are consistent with climate change based on the following three basic policies.
1. Strengthening efforts for clean resources and energy
We will strengthen support for efforts to reduce CO2 emissions in resource development projects, such as oil/gas field and mining development.
Steady energy transitions will be advanced by promoting the development of liquefied natural gas (LNG), which emits relatively low quantities of CO2. We will, in particular, actively contribute to strengthening the foundation of the gas supply chain, which supports economic growth in the Asia-Pacific region.
We will promote the development of geothermal resources that emit almost no CO2 during power generation. We will further promote efforts to advance geothermal resources development in Japan and strengthen technological developments that contribute to international project development and establishment of new potential.
We will strengthen our efforts toward a stable supply of metal and mineral resources that will support renewable energy and future electrification.
2. Strengthening efforts for decarbonized fuels and technology
We will promote efforts for decarbonized fuels, such as hydrogen and ammonia. We will strengthen support in fields where the technical knowledge of JOGMEC can be directly utilized, such as blue hydrogen and ammonia. We will also contribute to the construction of hydrogen and ammonia supply chains and market expansion, while utilizing our relationship with resource-rich countries.
We will strengthen efforts for fossil fuel decarbonization technologies, such as CCS and carbon recycling. We will specifically maximize the use of technical knowledge of JOGMEC on the subsurface and surface characteristics and strengthen financial and technical support for Japanese companies in securing suitable sites for CCS.
3. Contributing to the development of systems necessary for decarbonization
We will contribute to the foundation of a carbon-neutral society through active participation in institutional studies that are essential for promoting decarbonization; these include carbon pricing, such as credit systems, as well as CO2 reduction evaluation methods and certification frameworks that form the basis of such initiatives.