Response to Climate Change

CO₂ Reduction Targets (Scope 1+2) and Monitoring Indicators (for Scope 1,2,3)

CO₂ Reduction Targets (Scope 1+2) and Monitoring Indicators (for Scope 1,2,3)

We recognize that an environmental contribution consisting only of a reduction in our CO₂ emissions is not enough to secure corporate sustainability. Along with these reduction efforts, we need to contribute to society by providing low-carbon energy with a view to transitioning to a low-carbon society in the future. Moreover, we also aim to contribute economically by generating profits and enhancing our resilience as a company even as we shift our business portfolio. We consider all of these endeavors to be matters of equal importance.
Based on this idea, the Group has created a system for evaluating and managing CO₂ reduction initiatives using the following three indicators.

Indicator1Target value … Contributing to the Environment

Reduction of CO₂ emissions in our own operations (Scope 1+2)

Indicator2Monitoring indicator … Contributing to Society

Reduction of CO₂ emissions per unit of energy supplied, including Scope 3

Indicator3Monitoring indicator … Contributing to the Economy

Revenue level per unit of CO₂ emitted, including Scope 3

Target (Scope1, 2)
Indicator 1CO₂ Reduction Target (Scope 1+2)

Idemitsu aims to achieve carbon neutrality (net zero CO₂ emissions) for emissions from its own operations (Scope 1+2) by 2050. We have set the target -46% vs. 2013 of CO₂ reduction target by 2030 as a waypoint to encompass. Dealing mainly with fossil fuels, Idemitsu recognizes CO₂ reduction as a priority with ensuring a stable supply of energy and will continue striving to achieve its targets.

2030 Target: -46% (vs. 2013) Scope: Idemitsu and consolidated subsidiaries

Calculation formula = CO₂ emissions in target year (Scope1+2) - CO₂ emissions in base year (Scope1+2)

FY2021 Result: -10.6% (vs. 2013)

In FY2021, energy conservation activities at refineries and complexes helped reduce CO₂ emissions. On the other hand, partly due to an increase in crude oil throughput following the economic recovery from the COVID-19 pandemic, resulted in CO₂ emissions increased slightly.

CO₂ emissions (Scope 1+2)
Fiscal year 2013 2019 2020 2021
CO₂ emissions* (thousand tCO₂) 15,870 14,163 13,968 14,182
  • *Scope1+2
Monitoring Indicator (Scopes 1, 2 and 3)
Indicator 2Low carbon level of supplied energy

(Indicator of the extent to which an energy company can reduce the “CO₂ emissions per unit of energy” supplied to society)

Calculation formula
Indicator 3Degree of carbon exit from corporate earnings

(Indicator of how the “Revenue level per unit of CO₂” emitted by the Company as a whole is being raised)

Calculation formula
  • *1 Scope3 emissions refer to those classified as the “Category 11: Use of Sold Products”
  • *2 CO₂ reduction contribution throughout the entire value chain

We use above two indicators for internal monitoring indicator.

Reducing CO₂ Emissions Throughout Entire Value Chains

We are committed to reducing CO₂ emissions globally along the entirety of our value chains. We will promote the reduction of CO₂ emissions through our business activities in the following five areas.

出光興産, DFF Inc.