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Revision of the “JOGMEC Carbon Neutral Initiative”
Strengthening of Action Plan for achieving a carbon neutral society

December 2, 2022

Japan Organization for Metals and Energy Security (JOGMEC) has revised the “JOGMEC Carbon Neutral Initiative”. We will accelarate our efforts towards building a virtuous cycle of economy and environment in a future-decarbonized society.
JOGMEC formulated the “JOGMEC carbon Neutral Initiative” (hereinafter referrd to as “Initiative”) April 2021, which clarified our direction to work on the issue based on three basic policies: “Strengthening efforts for clean resources and energy”, “Strengthening efforts for decarbonized fuels and technology”, and “Contributing to the development of systems necessary for decarbonization”. Based on the Initiative, we have been working across the organization towards achieving a carbon neutral society via a stable resource and energy supply in Japan. Responding to the globally accelerated movement of climate change and decarbonization, JOGMEC has revised the Initiative in accordance with the amentment to the JOGMEC law.

In the revision, we have added the following five new initiatives to the Action Plan based on three basic policies.
 
  1. Providing equity capital and liability guarantees for the production and storage of decarbonized fuels (hydrogen, ammonia, and synthetic fuel)
  2. Providing equity capital/liability guarantees and geological/geophysical surveys for CO2 storage
  3. Providing equity capital and liability guarantees for domestic ore processing and smelting business
  4. Providing equity capital for overseas geothermal exploration (Note)
  5. Wind Condition and Geological surveys for domestic offshore wind development
We have also included further efforts in the existing initiatives in the Action Plan, such as increasing JOGMEC’s rate of provided equity capital for overseas development and production of high-risk minerals for carbon neutrality and the formulation and utilization of recommended guidelines for CCS project and GHG/CI (Carbon Intensity) accounting framework for LNG, hydrogen and ammonia projects.

JOGMEC will continuously work across the organization towards achieving a carbon neutral society through the efforts based on the Initiative.

(Note) To be executed on April 1, 2023

Reference

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